After the decision by US President Donald Trump to remove the tariff (import duty) imposed on mobile phones, now the US stock markets are expected to rise again.
Recently, the Trump administration has announced that the additional duty imposed on smartphones and mobile devices imported from China and other countries is being abolished with immediate effect. This decision is being considered a big relief for the US tech sector and the global market.
Table of Contents
- Tariff Removal Announcement
- Hope of Relief After Market Decline
- Expert Opinions
- Benefiting Companies
- Global Impact
- Political Background
- Conclusion
Hope of relief after market decline
There was uncertainty in the US stock markets for the last few weeks. Especially in the tech sector, shares of Apple, Samsung and other mobile manufacturers saw a decline as the tariffs were directly affecting the costs and profits of these companies.
But now that the tariffs have been removed, experts believe that investor confidence will return and the market will soon move towards recovery.
What did the experts say?
John Davis, a senior Wall Street analyst, said:
“This decision is a positive sign for investors. The removal of tariffs will improve the profits of companies and consumers will also be able to get mobile phones at cheaper prices.”
Maria White, a global market analyst, says:
“This decision can also strengthen trade relations between the US and China. Also, this will increase demand in the consumer market which will prove to be helpful in economic growth.”
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Which companies will benefit the most?
Apple Inc.: This US company, which has production in China, was being most affected by the tariff. Now Apple will get relief.
- This is also a positive news for companies like Samsung and Google, which import mobiles from China.
- Qualcomm, Intel, and other chip manufacturers will also benefit as demand for their products may increase.
International impact
The removal of tariffs will affect the mobile industry not only in the US but all over the world. Now the prices of smartphones can also be seen falling in the markets of India, Europe and South East Asia.
Political background
Trump’s move has come at a time when the upcoming elections in America are near. This decision is being considered a strategic step taken towards business flexibility and relief to consumers.
Experts are calling it a “pro-business move”, which will not only strengthen the stock market but the general public will also benefit from cheap mobiles.
Conclusion
Trump’s decision to remove mobile tariffs is a positive sign for the market, companies and the general public. Now all eyes are on how quickly and strongly the actual impact of this decision is seen on the US stock market.
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