NEW YORK (TheStreet) -- Shares of Apple (AAPL) were higher in mid-afternoon trading on Tuesday, despite being down in the past week on the election of Donald Trump last Tuesday. Investors are worried about whether Trump's anti-trade plans will come to fruition and what effect they will have on Apple.
If the U.S. puts sanctions or tariffs on China, then the U.S. will get hit back, Bloomberg News' Cory Johnson said on "Bloomberg Markets: America" on Tuesday afternoon. He was citing an editorial titled "Will Trump start a trade war against China?" from the Global Times over the weekend.
"China will take a tit-for-tat approach then," the editorial board wrote. "A batch of Boeing (BA) orders will be replaced by Airbus. U.S. auto and iPhone sales in China will suffer a setback."
"You can already see the saber rattling there," Johnson noted. Going forward, the focus will move toward companies that are "iconically American" and Apple "certainly fits into that category."
Since Apple could possibly experience setbacks from Trump's trade policies, the "selloff we've seen in the last few days isn't as stupid as some of the stupid things that Wall Street does," he claimed.
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