FT News Briefing Trump’s tariff reversal
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Apr 10, 2025 US stocks skyrocketed as Donald Trump paused tariffs, sending waves through global trade. The EU and China are in talks to forge a new trade relationship, influenced by the tariff situation. Meanwhile, Apple is shifting its focus to India for iPhone production, seeking to navigate the fallout from these tariffs. This pivot not only addresses supply chain challenges but also reshapes the future of tech manufacturing amidst ongoing trade tensions.
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Tariff Pause Impacts Markets
- The Trump administration paused some tariffs for 90 days to allow countries to negotiate new trade deals.
- This caused US stock markets to surge, with the S&P 500 having its best day since 2008.
Apple's India Pivot
- Apple's stock rebounded after the tariff news, having previously suffered significant losses.
- The company plans to increase production in India to mitigate tariff effects.
Apple's India Strategy
- Apple increased its presence in India during the pandemic due to China's COVID restrictions.
- There are challenges in shifting production, including component sourcing and skilled labor.