Apple, rare earths
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Apple is investing $500 million with MP Materials to design and manufacture recycled rare earth magnets in the US, specifically for Apple devices.
Trump pharma and chip tariffs may start this month, sparking price hikes, inflation, and global trade ripples.
The deal, announced on Tuesday, guarantees Apple a steady flow of rare earths and magnets free from China, the world's largest producer.
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President Donald Trump has started to dictate new tariff rates for countries without a U.S. trade deal, with the Apple Watch, Mac Pro, and Mac Studio all poised to get hit by extra import charges on August 1.
7hon MSN
President Trump announced potential tariffs on imported pharmaceuticals by month's end, followed by semiconductor levies. These actions, under Section