Following Trump's announcement of reciprocal tariffs, Apple experienced a dramatic loss of $700 billion in market value. Exemptions from these tariffs may be considered for US companies, but past instances suggest uncertainty regarding their permanence. The White House emphasizes that American companies like Apple and Nvidia are pushing to relocate manufacturing back to the U.S. amid concerns that tariffs could bolster inflation and slow economic growth. Economists warn that tariffs on everyday goods could increase inflation, projecting rates could soar to 4% due to these measures.
Shares in the US tech giant were one of Wall Street's biggest casualties in the days immediately after Trump announced his reciprocal tariffs. About $700 billion was wiped off Apple's market value in the space of a few days.
'President Trump has made it clear America cannot rely on China to manufacture critical technologies such as semiconductors, chips, smartphones, and laptops,' said Leavitt.
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