The American technology sector is about to witness “Armageddon Economic” amid Trump’s tariff, according to the EXC Wealth Management

Dan Evs, chief stock analyst at Wedbush Securities, says President Trump’s tariff will likely lead to the collapse of the American technology sector.

In a new interview for CNBC, Evis says that Trump’s customs tariffs are bad news for technology companies, especially for companies that depend on China for spare parts and employment.

Last week, Trump issued an executive order imposing a 10 % tariff on all imported goods entering the United States, with the declared goal of protecting local manufacturing. Trump’s executive order shows the country’s definitions, which leads to a 54 % cumulative tariff for Chinese imports.

According to IVES, American technology companies like Apple are now under pressure to rethink their business model amid a possible increase in production costs.

“It is basically an economic hormone if these definitions remain in place. The truth of speaking to the microphone in the Code of District 202 is very different from the fact that the supply chain moves.

And I think he is talking to our view that when you look at the names exposed to China, from NVIDIA to Apple to any of [semiconductor] The names, this is tense as I saw investors returning to the March 2020 Coffee. “

Evis says he believes that technology companies respond through long -distance hiking prices, which leads to “destroying demand”.

“If you hold in its current form, then you have a destruction from 15 % to 20 % in all areas in terms of costs that will actually have to come.”

Wealth Management official says that at the end of the day, American consumers will bear the burden of Trump’s tariff.

“Who will pay it? He is the consumer, and this is the reality. You can talk about the customs tariff everything you want, the consumers will push it on iPhone devices, and they will pay it on the electronics, and they will pay it in all fields.”

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