Apple has suffered one of the biggest financial blows in its history, with its market capitalization slashed by more than $250 billion in just one day as its shares plunged 8.5% after new tariffs were imposed by the Trump administration, IZ reported, citing the Financial Times.
According to the publication, the former US president's new tariff policy is aimed at reducing imports from Asia and has a direct impact on Apple's global supply chain. In particular, the duties affected the company's key manufacturing hubs in Taiwan, India and Vietnam – countries where most of the iPhone, iPad, Mac and accessories are assembled.
Despite repeated attempts by Apple CEO Tim Cook to establish personal contacts with Trump and strengthen the company's position in Washington, Apple has been among the main victims. According to analysts, the new tariffs force the company to choose between two disadvantageous options: either raise the prices of its products or reduce profits by tens of billions of dollars.
This situation could have long-term consequences for Apple and the US technology sector as a whole, as rising trade barriers limit the flexibility of global production and undermine investment confidence in the market.
Interestingly, against the backdrop of global economic changes, the European Commission also announced its intention to review the future status of Ukrainians in the European Union.