Trade war escalates: Trump hikes China tariffs to 125%, pauses others for 90 days
Apple’s stock has regained some of its losses after the announcement of a 90-day pause on some new tariffs, while the tariff on imports from China to the U.S. has been jacked up to 125%.
Following the introduction of a 104% tariff rate against China and further retaliation from China, Apple’s stock was bracing for another day of turbulence on the market. However, after an announcement of a tariff pause, Apple’s been given a bit of a reprieve.
In an announcement on Wednesday, President Donald Trump confirmed that he had authorized a 90-day pause on new tariffs against most countries the U.S. deals with. At the same time, there is also a lowering of the reciprocal tariff to 10% for the period.
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Source: AppleInsider News
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