President Trump's new tariffs go far beyond China, and hit every nation in the world. Here's how badly Apple has been hit, and where it has been struck globally.
The iPhone maker spent years trying to move production of some products out of China to avoid tariffs. But now that may not matter.
1don MSN
The iPhone maker faced its biggest one-day drop in five years as investors panicked over Donald Trump's heavy tariffs on its supply chain hubs.
Apple has warned that tariffs could hurt its business, prompt it to increase prices and potentially force it to stop offering certain products altogether.
The Trump administration's tariffs will significantly hurt Silicon Valley tech companies like Apple, which has manufacturing operations in China, Vietnam and India.
Investors are clearly concerned about the impact tariffs might have on Apple, which at one point on Thursday was having its worst trading day in five years. Bank of America analyst Wamsi Mohan on Thursday morning cut his price target on Apple from $265 to $250, though he maintained his buy rating on the stock.
Apple’s costs are about to go way up thanks to tariffs. The biggest question facing the world’s most valuable company now is whether to make customers pay for it—or investors. It’s a question with no easy answers—as evidenced by Apple’s share-price wipeout Thursday.
Apart from China, Taiwan is also on the list of "worst offenders" in Donald Trump's latest round of tariffs, and now faces a new 32% tariff. There's been "a lot of disappointment, shock and anxiety" in Taiwan over the move, according to a political scientist.
Donald Trump imposed a 25% tariff on foreign-made cars as part of his economic plan to "supercharge" the US economy.