Chinese exports of Apple’s iPhones and other mobile devices to the United States fell to their lowest level since 2011 in April. This sharp decline highlights the significant disruption caused by US tariffs on trade between the two largest economies.
At the Port of Los Angeles, the busiest container hub in the US, shipments dropped by as much as 30% in early May. This decline is largely attributed to the tariffs imposed under President Trump’s administration, which have hit importers and retailers connected to China the hardest.
Gene Seroka, Executive Director of the Port of Los Angeles, explained that fewer containers mean less work for dockworkers, truckers, and warehouse staff. He noted that the impact was felt almost immediately in early May.
Business leaders are warning about the growing negative effects of these tariffs. JPMorgan CEO Jamie Dimon described the current tariffs as “pretty extreme” and warned that markets are underestimating their long-term impact. He highlighted rising risks of inflation and stagflation and said trade tensions are reshaping globalization. Citigroup CEO Jane Fraser also expressed concern, noting that companies are delaying investments due to tariff uncertainty.
Last week, Walmart announced upcoming price increases, prompting President Trump to criticize the company and tell it to “eat the tariffs.”
The Trump administration has intensified its rhetoric recently. Treasury Secretary Scott Bessent stated that tariff rates would return to “reciprocal” levels if countries fail to reach trade agreements with the US during a 90-day negotiation pause. He emphasized that 18 key trade partners are being prioritized for deals.
President Trump said on Friday that the US would set tariff rates for trading partners within weeks but acknowledged the administration cannot negotiate with all countries simultaneously due to limited capacity. He promised fairness but noted the challenge of meeting all demands.
These developments come as the tariffs continue to reverberate globally, affecting trade flows and business decisions.
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