By Dean Seal
Shares of Apple are leading tech sector gains after the U.S. agreed to deescalate its tariff fight with China, where most of Apple's devices are assembled.
The stock was up 5.2% at $208.66 in early trading. Shares are still down 17% since the start of the year.
The trade-war truce comes on the heels of a report from The Wall Street Journal, citing unnamed sources, that said Apple had been considering price increases on its fall iPhone lineup while trying to avoid blaming the hikes on tariffs.
The U.S.-China trade war has been pressuring Apple's supply chain and forcing it to shift some manufacturing to India. Now, the U.S. has agreed to scale a 145% tariff on Chinese goods down to 30%, and cut a 125% "reciprocal" tariff" on Chinese goods to 10%.
Apple will still face higher duties on Chinese imports than it did before President Trump launched the tariff war.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
May 12, 2025 11:53 ET (15:53 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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