President Trump unveiled reciprocal tariffs at a White House event, pushing the total tariff on Chinese goods to 54%, posing a risk to Apple's supply chain.
Apple shares were down 7% in after-hours trading, affected by the news of reciprocal tariffs.
Apple production hubs in countries such as India, Vietnam, Malaysia, Thailand, and Ireland will be hit with varying tariffs.
The new tariffs will be effective from April 9, 2025.