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3w ago

Apple Loses $300 Billion as Trump Tariffs Reshape Global Trade Landscape

Sweeping reciprocal tariffs, including a 54% levy on Chinese goods, disrupt Apple's supply chain and prompt sharp declines across tech stocks.

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A view of Apple iPhones displayed at an Apple Store at Grand Central Terminal in New York City, New York, U.S., October 16, 2024. REUTERS/Kent J. Edwards/File Photo
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The new Space Black finish doesn't eliminate fingerprints entirely, but it does a far better job that Midnight. The mirrored Apple logo is another story altogether.

Overview

  • President Trump announced sweeping tariffs, with a 54% rate on Chinese goods, 26% on Indian goods, and 46% on Vietnamese goods, effective in phases starting April 3, 2025.
  • Apple's stock plunged nearly 9% in intraday trading, erasing $300 billion in market value due to its heavy reliance on Chinese manufacturing.
  • The broader 'Magnificent Seven' tech stocks, including Amazon, Nvidia, and Meta, also saw significant losses, contributing to market-wide volatility.
  • Analysts estimate Apple may need to raise product prices by 6% to offset tariff costs if exemptions are not granted, with its $500 billion U.S. investment pledge potentially influencing exemption decisions.
  • The tariffs are part of the Trump administration's strategy to rebalance trade agreements and encourage domestic manufacturing, though concerns about supply chain disruptions and inflation persist.