President Trump’s reciprocal tariffs hit Apple stock in after hours trading

President Trump unveiled reciprocal tariffs at a White House event, set to hit 34% on China, the administration announced Wednesday. Combined with existing rates, this would push the total tariff on Chinese goods to 54%, posing a major risk to Apple’s supply chain, which heavily relies on the Asian nation. The tariffs also extend to Apple’s other production hubs. While most of its US-sold devices are still manufactured in Chinese factories, Apple has expanded production across multiple countries.
In after-hours trading, Apple shares were down $15.64, or -7%, to $208.25.
Mark Gurman for Bloomberg News:
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Though the company still produces the majority of its US-sold devices in Chinese factories, Apple now makes its wares across a swath of nations.
• India, where Apple is increasingly building iPhones and AirPods, is getting a 26% reciprocal tariff.
• Vietnam, where the company now makes some AirPods, iPads, Apple Watches and Macs, will be hit with a 46% levy.
• Malaysia, where Apple is increasingly making Mac computers, will have a 24% tariff.
• Thailand, where the company also makes some Macs, will get a 36% levy.
• Ireland, within the European Union, gets a 20% tariff. Apple produces some iMacs there.
The White House said the new tariffs kick in on April 9.
Today, Apple conducts little to no mass production in the US. It advertises a single model — the Mac Pro, which starts at $6,999 — as being built in Texas. But that machine sells in limited quantities, and many of its parts are imported from China and elsewhere.

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MacDailyNews Take: Overreact more and drive it below $200! We’ll back up the truck.
As we wrote on March 19th:
If only we had seen how President Trump’s trade policies played out globally and how the markets reacted and responded previously.
Anyone who thinks Apple won’t get significant, meaningful U.S. import tariff exemptions hasn’t been paying attention. Profit from the panic of the uninformed and misinformed.
“Expect specific exemptions from U.S. import tariffs for important Apple products.” – MacDailyNews, February 2, 2025
Even with a myopic reactionary atop Apple’s org chart for far too long, we buy — and will continue to buy — AAPL on these overreactive dips.
Currently, we dream sub-$200 dreams every night, but we’ll take the sub-$210 prices we got last week with big smiles!
The engine Steve Jobs built is unparalleled. Apple has the capital and revenue generating capacity to overcome anything and everything its current leadership misses.
“The stock market is a game. You either understand the “rules” and play it well, and get paid, or it’s better to sit on the sidelines and watch it for entertainment.” – MacDailyNews, July 22, 2015
“Be fearful when others are greedy and to be greedy only when others are fearful.” – Warren Buffett

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