Apple and US Tech Firms Hit as Trump Targets Key Suppliers
Following Trump's new tariff regime effective April 5 and April 9, major U.S. tech stocks including Apple, Amazon, and Tesla fell sharply, with Apple's supply chain hit hardest due to its reliance on China and Vietnam.
Published on April 3, 2025
Major U.S. tech companies including Apple, Amazon, Tesla, and Nvidia saw sharp declines in after-hours trading on April 3, 2025, as President Donald Trump announced sweeping new tariffs. The measures include a 10% universal tariff coming into effect on April 5 and higher reciprocal tariffs on key trade partners such as China, the EU, and South Korea starting April 9. Apple's supply chain, with significant reliance on manufacturing in China and Vietnam, appears particularly vulnerable amid these changes.
Market sentiment turned negative as investors braced for potential disruptions to global supply chains and broader economic impacts. While steep stock declines underscored immediate concerns, financial analysts and institutions—including leaders at Reuters and the Reserve Bank of Australia—warned that these measures could spark a broader recessionary outlook by dampening business spending and increasing import prices for U.S. consumers.