U.S.-China trade tensions

U.S. stocks fell sharply as Apple shares dropped 3%, losing over $100 billion in value after Donald Trump threatened 25% tariffs on iPhones unless production shifts to the U.S. Analysts note Apple’s supply chain—heavily reliant on China and India with $50+ billion in existing investments—makes rapid relocation unrealistic. Despite political pressure, Apple’s 2023 supplier list includes 180+ Chinese firms, highlighting logistical barriers. While Trump’s remarks amplified U.S.-China trade concerns, the stock decline reflects recalibration of political risks in tech valuations rather than panic, given entrenched global manufacturing infrastructure.