Asset Management According to EXEC, the US technology sector will witness ‘Economic Armagedon’ according to Trump’s tariffs
Dan IVES, a senior stock analyst of Wedbush Securities, a investment banking company, said that President Trump’s tariffs would probably lead to the collapse of the US technology sector.
In a new CNBC interview, Ives says that Trump’s sweeping and mutual tariffs are bad news for technology companies, especially for parties to China and for relying companies for labor.
Last week, Trump released an executive order that applied 10% tariff to all imported goods entering the United States to maintain domestic production. Trump’s executive order has also elaborated the country -specific tariffs, led to a 54% tariff in Chinese imports.
According to IVES, US technology companies such as Apple are under pressure to rethink business models in the midst of the potential increase in production costs.
“If these tariffs remain in place, the truth of the conversation in front of the microphone in the field code of 202 is very different from the reality of moving the supply chain.
And I think when you look at the names exposed to China, from NVIDIA to Apple, to any of them [semiconductor] The names are as nervous as I see that these investors have returned to March 2020. “
IVS said technology companies responded with walking prices and led to “demanding destruction”.
“If they keep in their existing forms, you have 15% to 20% demand destruction in the Board in terms of the costs that actually need to actually come.”
Asset Management Manager says that at the end of the day, American consumers will carry the burden of Trump’s tariffs.
“Who will pay? You can talk about this consumer and this real. Traders.
https://www.youtube.com/watch?v=miyrnlfi_10
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