Shares in the US tech giant were one of Wall Street’s biggest casualties in the days immediately after Trump announced his reciprocal tariffs. About $700 billion was wiped off Apple’s market value in the space of a few days.
Earlier this week, Trump said he would consider excluding US companies from his tariffs, but added that such decisions would be made “instinctively.”
Chad Bown, a senior fellow at the Peterson Institute for International Economics, said the exemptions mirrored exceptions for smartphones and consumer electronics issued by Trump during his trade wars in 2018 and 2019.
“We’ll have to wait and see if the exemptions this time around also stick,
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