US technology and car firms at risk from proposed semiconductor tariffs 

Leading US technology and car firms including Apple, GM and Ford are at risk of a significant financial hit, if the proposed semiconductor tariffs by the Trump Administration are enacted this week. 

Our analysis, based on trade intelligence from ALPS Marine, examined semiconductors imports by US companies, which showed that both the tech and car industries would face the largest financial hit from the tariffs. 

Apple, the largest company by market capitalisation, is the most exposed, having imported $254 million of semiconductors into the US in 2024, according to our analysis.  

The company operates a global supply chain, with factories in China, Vietnam and India, that supply the raw materials used to power many of their flagship products including the iPhone and MacBook.  

By operating a global supply chain, the company is reliant on imports into the US, which feed into the production of their products that are then shipped around the world.  

This trade flow at US ports, as highlighted by our analysis, runs at $32 billion across major US ports including New York/New Jersey, Los Angeles, Long Beach, Houston, Virginia, Charleston, Oakland, Savannah and Tacoma. 

Over the years, this approach has seen the company rise to become the world’s most valuable company, but in an era of protectionism and tariffs, this position looks increasingly under threat. 

In response to the first set of tariffs announced on 2nd April, Apple’s share price fell by 9.25%, with the company losing $310 billion (£240 billion) in market capitalisation. This fall was not unique to Apple, with the Nasdaq 100 losing $1.4 trillion (£1.08 trillion) and the S&P 500 losing $2.48 trillion on the same day. 

General Motors is the second largest company exposed to thesemiconductor tariffs, with our analysis revealing the company imported $159 million in semiconductors to the US last year.  

Meanwhile, Ford imported $81 million into the US last year, making it the third largest company exposed to the proposed semiconductor tariffs.