Trump announces huge tech tariffs - and hails 'significant step' towards an 'ultimate goal'

Donald Trump has announced 100% tariffs connected machine chips and semiconductors made extracurricular the US.

The announcement came arsenic Apple main enforcement Tim Cook said his institution would put an other $100bn (£74.9bn) successful US manufacturing.

Soon, each smartwatch and iPhone solid astir the satellite volition beryllium made successful Kentucky, according to Mr Cook, speaking from the Oval Office.

"This is simply a important measurement toward the eventual extremity of ensuring that iPhones sold successful the United States of America are besides made successful America," said Mr Trump.

"Today's announcement is 1 of the largest commitments successful what has go among the top concern booms successful our nation's history."

Mr Cook besides presented the president with a one-of-a-kind trophy made by Apple successful the US.

Trump's tariffs deed India hard

Mr Trump has antecedently criticised Mr Cook and Apple aft the institution attempted to debar his tariffs by shifting iPhone accumulation from China to India.

The president said helium had a "little problem" with Apple and said he'd told Mr Cook: "I don't privation you gathering successful India."

India itself felt Mr Trump's wrath connected Wednesday, arsenic helium issued an enforcement bid hitting the state with an further 25% tariff for its continued purchasing of Russian oil.

Indian imports into the US volition look a 50% tariff from 27 August arsenic a effect of the move, arsenic the president seeks to summation the unit connected Russia to extremity the warfare successful Ukraine.

Mr Trump told reporters astatine the White House helium "could" besides deed China with much tariffs.

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Apple's 'olive branch'

Apple, meanwhile, plans to prosecute 20,000 radical successful the US to enactment its other manufacturing successful the country, which volition full $600bn (around £449bn) worthy of concern implicit 4 years.

The "vast majority" of those jobs volition beryllium focused connected a caller end-to-end US silicon accumulation line, probe and development, bundle development, and artificial intelligence, according to the company.

Apple's concern successful the US caused the company's banal terms to hike by astir 6% successful Wednesday's midday trading.

The emergence whitethorn bespeak alleviation by investors that Mr Cook "is extending an olive branch" to Mr Trump, said Nancy Tengler, main enforcement of wealth manager Laffer Tengler Investments, which owns Apple stock.