The iPhone maker faced its biggest one-day drop in five years as investors panicked over Donald Trump's heavy tariffs on its supply chain hubs.

Countries around the world threatened to ratchet up a trade war with the United States as President Donald Trump's sweeping tariffs ignited fears of price hikes in the world's largest consumer market and a global economic downturn.

Your next iPhone could be a lot more expensive. If Apple passes on the cost, a $799 iPhone could jump to $1,142, and the iPhone 16 Pro Max might hit $2,300. With sales already struggling, higher prices could hurt Apple even more.

Apple's leaders, customers and fans are all holding their breath to see whether Trump's gigantic new tariffs will hamstring the iPhone maker. Why it matters: Steve Jobs and Tim Cook built the most successful and arguably most beloved U.

US President Donald Trump’s sweeping tariffs on Apple’s biggest production and supplier hubs in Asia, including China, India and Vietnam, could hurt the tech giant. The iPhone maker is already feeling the sting after it lost nearly $300 billion in market value following the White House’s announcement.

By Jeff Mason, David Ljunggren and Satoshi Sugiyama WASHINGTON/OTTAWA/TOKYO (Reuters) - Countries around the world threatened to wage a trade war with the United States as President Donald Trump's sweeping tariffs fed expectations for a global downturn and sharp price hikes for swathes of goods in the world's biggest consumer market.

President Trump's new tariffs on imports from China, India, and Vietnam may increase the costs of future iPhones. These tariffs impact Apple's production hubs significantly. It remains uncertain whether Apple will absorb the costs or pass them to consumers.

A sharp price hike could dampen consumer sentiment and give South Korea's Samsung an edge as the country faces lower tariffs than China

Following the announcement by the Donald Trump on reciprocal tariffs, Apple’s stock plunged 9.3%, marking its worst single day drop since 2020.