How Are Tariffs Affecting iPhone Prices?
Vocab level: C1
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What a ride!
The Dow right now shooting up over 2,000 points. Look at that!
Wow, this is a shocking turn of events.
One that maybe I think we'll probably be telling our grandkids about.
The stock market today shot up after President Trump hit the pause button on his tariff war,
leaving everyone stunned.
Are the numbers I'm seeing on my screen correct here for the Dow?
Are we up 7,840 points right now?
Wow, our charts can't even keep up with how quickly these numerical moves are happening.
The sudden turnaround came after Trump dropped the tariff for most countries to 10%.
With the exception of China which he raised to 125%.
I guess they say it was the biggest day in financial history.
Trump declared victory at an impromptu press conference outside the White House.
He has stood by his tariff policy even as it led to financial chaos across the globe.
I know what the hell I'm doing.
I know what I'm doing and you know what I'm doing too.
But now the huge 125% tariff on China is sparking a run on iPhones.
Apple customers are scrambling to upgrade their treasured mostly made in China smartphones,
before Trump's tariffs drive the prices through the roof.
Miami Pilates instructor Tracy Belchure just ran out and bought a shiny new iPhone 16.
You don't know like are you going to be able to get one?
Is it going to be too expensive?
Are you going to be able to get parts?
What if the screen cracks?
You know you just don't know what's going to happen.
Experts say the price of the latest iPhone could jump 43%
from $799 to $1,500.
If you're trying to make an iPhone in the United States,
according to one analyst that would cost about $3,500.
Prices are unlikely to go up right away.
Apple has been stockpiling iPhones.
They reportedly flew in five cargo planes full of iPhones from India and China last month,
in anticipation of the tariffs and...
their warehouses are full.
So there's no need to panic just yet.
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