US President Donald Trump announced a 90-day pause on his administration’s “reciprocal tariffs,” sending Apple shares soaring. The move affects production locations in Vietnam, India, and Thailand, reducing tariffs by up to 84%. The rally added $400 billion to Apple’s market cap, bringing its value close to $3 trillion. This is the company’s best day since January 1998. With most iPhones made in China, reduced tariffs on other countries could benefit Apple’s sales in China, its third-largest market.
Source: https://www.cnbc.com/2025/04/09/apple-has-best-day-since-1998-on-trumps-90-day-tariff-pause.html