The price tag for Apple’s iPhones may increase by more than 40% after President Donald Trump announced sweeping reciprocal tariffs on U.S. trade partners, analysts said Thursday, as Trump’s trade policies will likely increase prices across several imported goods, including new cars, coffee, chocolate and other products.

Lenovo said on Thursday it and Ericsson had reached an agreement on a global patent cross-licence and to settle all pending litigation, ending a worldwide legal battle.

U.S. futures indexes fell sharply early on Thursday, led by a deep slide in major tech stocks, while global markets also faced a major selloff after President Donald Trump’s sweeping reciprocal tariffs raised fears of a global trade war and recession.

Apple has warned that tariffs could hurt its business, prompt it to increase prices and potentially force it to stop offering certain products altogether.

Apple has made moves to diversify its supply chain beyond China to places like India and Vietnam, but tariffs announced by the White House are set to hit those countries too. President Donald Trump on Wednesday laid out U.

Apple's leaders, customers and fans are all holding their breath to see whether Trump's gigantic new tariffs will hamstring the iPhone maker. Why it matters: Steve Jobs and Tim Cook built the most successful and arguably most beloved U.

Shares of Apple were down about 9 percent on Thursday morning, which would mark the biggest drop in about five years if it holds until the close, according to CNBC. Amazon shares dropped about 7 percent.

Apple stocks plummet in ‘Liberation Day’ aftershock as Republican senators defy president over tariffs - President Trump says he will impose blanket tariffs on all countries, hitting China and Europe

Apple Inc. is finding itself squarely in the crosshairs of President Donald Trump’s new tariffs, even after a yearslong effort to insulate the iPhone maker from trade wars and supply chain disruptions.