From an investor note written by Wedbush Securities’ Dan Ives that’s going around: “The economic pain that will be brought by these tariffs are hard to describe and can essentially take the US tech industry back a decade in the process while China steamrolls ahead. 50 percent China tariffs, 32 percent Taiwan tariffs would essentially cause a shut-off valve from the US tech landscape and in the process cause every electronic to go up 40 percent-50 percent for consumers, iPhones made in the US would cost $3,500 (vs. $1,000), and the Al Revolution trade would be significantly slowed down by these head scratching tariffs that NEED to be negotiated to realistic levels.”

“‘Near term pain’ is a term being tossed around a lot… Let’s discuss the reality. It takes 4-5 years to build a manufacturing facility in the US, the cost of labor is unrealistic in the US to ever have semi fabs at scale, the skill set of the US workforce is years away from being ready for this transition thrust upon the economy by these Trump tariffs. If these tariffs went into place at current form overall tech earnings would come down 15 percent at least, the supply chain will be a Rubik’s Cube rivaling Covid days, and the economy would go into a recession/stagflation. We assume tariff negotiations start now otherwise dark days are ahead for tech… and US consumers pay the price for this… not a debate.” But Kamala Harris never proved she worked at McDonald’s in 1983.