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.

With President Trump's 25% auto tariffs going into effect this week, automakers could put more burden on buyers.

With the announced tariffs, not only will prices not drop, but the cost of many other perishable groceries will likely increase before the end of the month, experts say. Around 15% of the U.S.'s overall food supply is imported,