President Donald Trump’s new import tariffs will hit Apple hard. The president slapped all major manufacturing countries that Apple operates in with heavy import tariffs Wednesday in a bid to reshape international trade.
“It’s our declaration of economic independence,” Trump said during a speech at the White House announcing the tariffs. “Today we are standing up for the American worker and we are finally putting America first.”
This move undermines Apple’s efforts in recent years to diversify its supply chain away from China. The White House says the reciprocal tariffs will go into effect on April 9.