
When President Donald Trump announced a set of tariffs on countries the U.S. trades with on April 2, stocks for tech companies like Apple, Dell, and HP were rocked, wiping out billions in market value.
The Trump administration seemingly reversed course on the plan, instituting a 90-day pause on tariffs for most countries. Then there was more of a reprieve for tech companies when consumer tech products, such as smartphones and computers, were exempt from tariffs. While Trump insists that these exemptions are only temporary, it appears that this pivot might have been the work of Apple CEO Tim Cook.