Lisa Cook sues Trump over firing attempt, emergency hearing set
Investing.com -- Apple (NASDAQ:AAPL) stock edged lower, falling 0.5% in pre-market trading Wednesday after White House trade counselor Peter Navarro suggested the tech giant believes it’s "too big to tariff."
Navarro made the comments during an interview on Fox Business, where he discussed ongoing trade negotiations. "Apple thinks it’s ’too big to tariff’," Navarro stated, implying the company might expect special treatment in the ongoing trade tensions.
The White House advisor also noted that "markets understand trade letters are negotiations," suggesting that communications regarding trade policies should be viewed as part of a broader negotiation process rather than final decisions.
During the same interview, Navarro advocated for monetary policy easing, stating that the "Federal Reserve should cut rates in July." This comment comes as markets increasingly anticipate potential interest rate cuts from the central bank.
Apple, which relies heavily on Chinese manufacturing for its products, has been particularly vulnerable to trade tensions between the world’s two largest economies. The company has previously sought tariff exemptions for various components and products in its supply chain.
The slight decline in Apple’s share price reflects investor concern about potential tariff impacts on the company’s production costs and profit margins should it become subject to additional trade measures.