NEW YORK, NEW YORK - APRIL 04: Apple iPhone 16 are seen on display at an Apple store on April 04, 2025 in New York, New York. U.S. President Donald Trump declared a U.S. economic emergency and announced sweeping tariffs of at least 10% and with rates even higher for 60 countries or that have a high trade deficit with the U.S. The tariffs will affect electronics, automobiles, clothing and shoes, wines and spirits, and swiss watches. In retaliation, China announced that they will impose 34% tariffs on the U.S. (Photo by Michael M. Santiago/Getty Images)
