Apple and Porsche were among several major companies reportedly scrambled to send goods to the US to stockpile inventory ahead of Trump's “liberation day” tariff deployment.
Mutual tariffs on Trump's trading partners (including 26% of India and 20% of EU members) came into effect on Wednesday, turning the course back hours later, announcing a 90-day suspension.
At the same time, he maintained a 125% charge in China after announcing retaliation for US goods.
Since March, Tim Cook-led Apple has chartered at least six cargo jets to fly from India to the US, each carrying an estimated 100 tonnes of iPhone. Reuters reportedcites sources that are well-versed in the situation.
The tech giant has also tweaked the Indian authorities to promote freight through customs.
Apple “wanted to beat tariffs” on its final shipment, a source familiar with the plan told Reuters.
A total of around 1.5 million iPhones have been ferried to the US, according to Reuters calculations.
Apple did not immediately return a request for comment.
Previous reports show that Apple has shifted away from China, producing most of its hardware while it plans to step up production at its India-based manufacturing plant.
Luxshare, a Chinese company that builds iPhones and makes Airpods, also said it could move more production to the US.
Apple's shares fell more than 7% in trading on Thursday, and plunged more than 20% since the start of the year due to exposure to China.
Meanwhile, German luxury car brands Porsche warned analysts on Thursday The first quarter results will be affected by “higher company-owned stocks shipped to the US to win tariff deadlines.”
Trump imposed a 25% tariff on imported cars and car parts that came into effect on April 3.
The collection remains in effect despite a 90-day suspension of national measures.
Automotive tariffs are expected to significantly increase manufacturing costs for companies building vehicles overseas.
Porsche has yet to say whether or not it will raise prices.
Rival Ferrari recently said it would raise prices by 10% on some models in light of tariffs.
Elsewhere, tech companies like Microsoft, Dell and Lenovo have all urged suppliers to step up their product shipments before tariffs settled. Nikkei Asia reported.
