It’s been a wild day for the global economy.Amid US tariff turmoil and reversals, the stock market went on quite the ride.After nearly a week of big losses, Apple stock rebounded significantly with more than 15% in gains—a result not only of the current tariff pause, but likely also exemption optimism thanks to new comments from President Trump.
Rebounding Apple stock likely buoyed by exemption possibility Apple’s stock started the day at $171.95, a recent low in light of looming tariffs and an escalating trade war between the US and China.But following word that the most severe global tariffs were on a 90-day pause, the stock soared and closed at $198.85.This represents more than a 15% increase, though it’s still down from pre-tariff numbers that hovered above $200.
The temporary de-escalation is undoubtedly a big part of today’s increases.So too, I suspect, is Trump’s indication that certain US companies may be getting tariff exemptions.Annie Linskey writes for : 9to5Mac’s Take Apple received tariff exemptions during Trump’s first administration, and at least some analysts seemed to believe the same would happen this time around.
Though nothing is confirmed, it wouldn’t be too surprising for Apple to be singled out as one of the companies that could “get hit a little bit harder” by tariffs.The company’s supply chain is heavily based in China, the one place US tariffs are still escalating.In fact, Trump name-dropped Apple when discussing tariffs this afternoon: Yes, I’d say exemptions for Apple seem very likely at this point.
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