Apple sheds $700 billion as Microsoft regains the world's most valuable company title — amid President Trump's steep tariffs on Chinese imports

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Apple CEO Tim Cook is seeking an exemption from President Trump’s stringent tariff plans.

Still, the administration wants the iPhone maker to uproot its production operations from China to the United States.

Apple Store in Bangkok, Thailand

This is part of the administration’s broader plans to boost US manufacturing and protect jobs.

Interestingly, China countered Trump’s tariff plan with a 34% tariff rate on goods from the US.

In response to that,China has announced 84% retaliatory tariffson U.S. goods in response to Trump.

But for now, Microsoft is poised to fare better than its immediate competition in the tech space.

U.S. President Donald Trump holds up a chart while speaking during a “Make America Wealthy Again” trade announcement event in the Rose Garden at the White House on April 2, 2025 in Washington, DC. Touting the event as “Liberation Day”, Trump is expected to announce additional tariffs targeting goods imported to the U.S.

Backside of the Acer Swift 14 AI while it sits on the table and faces right.

U.S. President Donald Trump speaks during the United Nations General Assembly seen on a laptop computer in Hastings on the Hudson, New York, U.S., on Tuesday, Sept. 22. 2020.