Finally, a bit of good news: Apple stock is on the rise (at least temporarily) after U.S. President Donald Trump announced plans to pause “reciprocal” tariffs for a 90-day period.
Apple stock is up five percent since the tariffs were paused and 11% today. However, as MacRumors notes, the market is volatile right now with Trump’s tariff back and forth, and it could see further shifts downward. Apple will still be impacted by tariffs on goods coming from China, but a reprieve on tariffs from other countries will allow Apple to bring more devices to the U.S. with little in the way of extra fees.
The 90-day pause applies to all “reciprocal” tariffs above the 10% baseline that went into effect today. However, White House Press Secretary Karoline Leavitt says that some tariffs would remain in place, including a 10% tax on many items entering the U.S. The U.S. is also keeping a 25% tariff on steel and aluminum imports.
The U.S. began collecting “reciprocal” tariffs on imports from 86 different countries today. The most notable of the tariffs was a 104% duty being imposed on goods being imported from China. Previously, Trump had set a 20% tariff on goods from China.
Scott Bessent, the US Treasury secretary, said the pause gives the White House “time to negotiate”.
“We are expecting countries to come to us with their best deal,” he told reporters in Washington. He said that Mexico and Canada would be included in the 10 per cent tariffs, and that countries which did not retaliate “will be rewarded”.
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