Planes full of iPhones – chartered in record time by American tech giant Apple – are reportedly being flown from China and elsewhere in Asia to the US, where nervous buyers are scrambling to update their handsets before new tariffs from President Donald Trump are expected to send prices into the stratosphere.
The run on Apple’s stores is only one example of the widespread panic setting in for a consumer base that is still reliant on Chinese goods, and their tacit understanding these products cannot be simply or quickly swapped for items from alternative sources – certainly not at the low costs to which they have become accustomed.
Though this time of year is traditionally a lean season for smartphone sales, Apple’s inventory is being shuttled rapidly from China – and India, another major supplier swept up in Trump’s tariff blitz – to the US while demand is hot.
More generally, electronics and electrical machinery was the US’ largest import category from China by value, with US$119.9 billion shipped in 2023.
