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As he threatened during his election campaign, President Donald Trump has imposed tariffs on imports from Canada, Mexico, and China. The move will impact several U.S. companies, including General Motors (GM), Apple (AAPL), and retailers like Walmart (WMT).
Talking specifically of Apple, the company is already facing challenges in China where its sales fell in double digits during the December quarter. The tariffs and fears of an escalating U.S.-China trade war under the Trump administration are doing no good for the iPhone maker.