Apple stock falls due to repercussions from the Trump administration’s tariffs on various countries
Apple stock has fallen as the tech giant has to deal with the repercussions of Trump administration tariffs on various counties where where Apple sources components for its iPhones, iPads, and Macs.
Tech stocks fell in late trading Wednesday after President Donald Trump announced new tariffs of between 10% and 49% on imported goods, reports CBNC. Apple had the largest drop among technology companies, falling nearly 6% in extended trading. If Apple’s postmarket loss is matched in regular trading Thursday, it would be the steepest decline for the stock since September 2020.
Trump has announced a base rate of 10% tariffs on all imports to the United States, which goes into effect on Saturday, April 5.
However, 9to5Mac reports that “the story only gets bleaker as the Trump administration is also instating what it calls “reciprocal tariffs” on select nations where the prices of US exports are said to be inflated by international government measures.” These higher rates are set to go into effect next week, April 9.
As The New York Times notes, Apple is already contending with a 20% tariff in China, which is set to increase significantly. Taiwan, where Apple sources the Apple silicon chips that go into all of its devices, is facing a 32% tariff.
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