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(Bloomberg) -- Apple Inc. is finding itself squarely in the crosshairs of President Donald Trump’s new tariffs, even after a yearslong effort to insulate the iPhone maker from trade wars and supply chain disruptions.
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A long list of levies unveiled by the White House are poised to hit the company especially hard, triggering a stock rout. The new reciprocal tariffs — a tax on imported goods in response to existing tariffs — will reach 34% for China. That would bring the total rate on Chinese goods to 54%, threatening to roil an Apple supply chain that still has the Asian country at its heart.
But tariffs also cover Apple’s other manufacturing centers, undercutting efforts to shift away from China. Though the company still produces the majority of its US-sold devices in Chinese factories, Apple now makes its wares across a swath of nations.
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India, where Apple is increasingly building iPhones and AirPods, is getting a 27% reciprocal tariff, according to the annex accompanying Trump’s executive order. Earlier, Trump had announced a rate of 26%.
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Vietnam, where the company now makes some AirPods, iPads, Apple Watches and Macs, will be hit with a 46% levy.
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Malaysia, where Apple is increasingly making Mac computers, will have a 24% tariff.
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Thailand, where the company also makes some Macs, will get a 37% levy, according to the annex.
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Ireland, within the European Union, gets a 20% tariff. Apple produces some iMacs there.
Apple could be affected further given the need to source components from several other countries and regions that are also being hit by tariffs. An Apple spokesperson didn’t respond to a request for comment.
The announcement jolted investors, who have grown increasingly concerned about the impact on Apple’s bottom line. Apple shares fell 8.5% when markets opened in New York on Thursday, erasing $255 billion in market value. The stock was already down 11% this year through the close on Wednesday, part of a broader tech retreat.
The tariffs showed how exposed global technology companies are to suppliers and manufacturers in Asia, which were hit hardest by Trump’s announcement. The White House said the new tariffs kick in on April 9.
Dell Technologies Inc., which commands one of the industry’s most sprawling supply chains, sank as much as 15% after markets opened. The company has suggested that it may need to adjust its prices in response to tariffs.