Tariffs send US buyers rushing for iPhones

MOST IPHONES ARE MADE IN CHINA, FACING 54% DUTIES

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The Trump administration's threat of massive new tariffs has sent Apple Inc.'s share price plummeting, but it also brought a short-term benefit: customers rushing to retail stores to buy iPhones.

Employees from different Apple locations across the country said stores filled with customers over the weekend with the shoppers expressing concerns that prices will climb dramatically after the levies are imposed. Most iPhones, Apple's best-selling and most important product, are manufactured in China, which is in line for tariffs of 54 per cent.