After announcing a mutual tariff in response to US President Trump’s trade policies, Apple Stock dropped 4% in early Friday in early Friday, roughly after yesterday’s tendency.
The latest decline is after Thursday’s dramatic 9% dip, which erases approximately $ 300 billion from the market price of Apple-the company’s worst single-day performance in the fifty years amidst the apprehensions of the worst single-day fears that Trump’s trade war will damage the global economy. Apple’s market value was expected to decrease further today as the markets processed China’s 34% tariff declaration.
China’s Finance Ministry announced that it would match 34% tariffs on US imports starting from 10 April, a day after Trump’s new duties were effective. The country also banned the export of important rare earth elements for technology manufacture and added 11 American businesses to its “incredible unit list”.
Trump’s “Liberation Day” tariff plan specifically threatens apples, which depends a lot on Chinese manufacturing despite the years of diversification efforts. The 54% effective rate on sugar imports combines the new 34% tariff with existing 20% charge.
The countries from which Apple are expanding its supply chain including Apple India, Thailand, Malaysia and Vietnam were also targeted with tariffs above the global base of Trump.
Analysts have warned that Apple has to face further difficult options, possibly an increase in US hardware prices up to 30% to offset the tariff effect or accept important hits for its profit margin.
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