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Stock Market News, May 23, 2025: Trump Threatens EU With 50% Tariffs, Takes Aim at Apple; Nasdaq Drops WSJTrump tariffs live updates: Bessent hails 'substantial progress' as US-China talks wrap up YahooTrump threatens steep tariffs on European Union goods, targets iPhones; live updates Central New Jersey NewsTrade Between the U.S. and EU Is Massive. We Break It Down. WSJ
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Apple Stock Falls After Trump Threatens Tariffs on Foreign-Made iPhones Barron'sTrump threatens 25% tariff on Apple and says Samsung and other tech companies could be next CNNIf Trump gets his way, could iPhones made in the US really cost $3,500? USA TodayWhy Making an iPhone in the U.S. Would Be So Difficult The New York Times
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U.S. stocks are falling on Friday after President Donald Trump threatened 50% tariffs on the European Union that could begin in a little more than a week.
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The economic banishment of all things Russian. Tariffs on Chinese imports. Pandemic-caused shortages of computer chips, bicycles, garage door parts and other imports. Brexit.
Just about everywhere you turn, you can see that the tectonic plates of the global economy have stopped converging and are starting to pull apart in ways that will determine new winners and losers, says Ethan Harris, head of global economics for Bank of America Securities. "Deglobalization is a gradual process, and in the long run, very important" to investors, he says, because it will have profound impacts on corporate profitability.
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Globalization refers to the increase of commerce across borders. U.S. companies prospered for decades as new markets opened for their goods and labor costs plummeted thanks to overseas production. Strategists at BofA have estimated that over the past 20 years, globalization has contributed more than half of what has been a robust expansion in profit margins. Globalization has also helped to deliver low-cost goods to American consumers.
But now, says market strategist Ed Yardeni, the pandemic and spreading political and military conflicts have stretched supply chains past the breaking point, prompting companies to bring many operations closer to home. "Deglobalization was almost inevitable," Yardeni says. U.S. companies are starting to "reshore" production back to the U.S., "near-shore" it to neighbors such as Mexico, or "friend-shore" it to allies such as Vietnam.
Investment firm Piper Sandler counted more than 900 announcements of companies either building or expanding manufacturing facilities in the U.S. in the 12 months ending in May of 2022. In 2012, there were only about 100 such announcements. Over the long term, companies
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