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Tariffs imposed by Donald Trump raise concerns about a global slowdown, impacting oil demand. Wirth attributes falling oil prices to increased OPEC+ production, but sees no recession signs yet, just slower growth. Trade tensions cited by IMF.
Morgan Stanley & Citigroup cut US stock forecasts due to policy risks & geopolitical tensions. Apple reclaimed smartphone lead. Tech stocks fluctuate amid tariff uncertainties. Goldman Sachs reflects market volatility.
But Apple is nonetheless unlikely to bring much production back to the U.S., as moving output to Texas or New Jersey from abroad would raise the price of an iPhone to $3,500 from $1,000, according to Wedbush Securities analyst Dan Ives.
In a recent letter to the U.S. Trade Representative (USTR), Tesla said that even with “aggressive” localization of the supply chain, some parts are “difficult or impossible” to source domestically.