Apple Airlifted iPhones Worth a Record $2 Billion from India in March as Trump Tariffs Loomed

A man walks past a poster of an Apple iPhone 16 at a store in Denpasar on Indonesia's resort island of Bali on April 12, 2025. (AFP)
A man walks past a poster of an Apple iPhone 16 at a store in Denpasar on Indonesia's resort island of Bali on April 12, 2025. (AFP)
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Apple Airlifted iPhones Worth a Record $2 Billion from India in March as Trump Tariffs Loomed

A man walks past a poster of an Apple iPhone 16 at a store in Denpasar on Indonesia's resort island of Bali on April 12, 2025. (AFP)
A man walks past a poster of an Apple iPhone 16 at a store in Denpasar on Indonesia's resort island of Bali on April 12, 2025. (AFP)

Apple's main India suppliers Foxconn and Tata shipped nearly $2 billion worth of iPhones to the United States in March, an all-time high, as the US company airlifted devices to bypass President Donald Trump's impending tariffs, customs data shows.

The smartphone maker stepped up production in India and chartered cargo flights to ferry 600 tons of iPhones to the United States to ensure sufficient inventory in one of its biggest markets on concern Trump's tariffs would push up costs.

In April, the US administration imposed 26% duties on imports from India, much lower than the more than 100% China was facing at the time. Trump has since paused most duties, except for China for three months.

Foxconn, Apple's main India supplier, exported smartphones worth $1.31 billion in March, its highest ever for a single month and equal to shipments for January and February combined, according to commercially available customs data reviewed by Reuters.

This included Apple iPhone 13, 14, 16 and 16e models, and took Foxconn's total shipments from India to the United States this year to $5.3 billion.

Exports from Tata Electronics, another Apple supplier, stood at $612 million in March, around 63% higher than the previous month, and included iPhone 15 and 16 models.

Apple, Foxconn and Tata did not immediately respond to requests for comment. Reuters is the first to report the shipment details.

Customs data showed all Foxconn shipments to the United States in March were by air from the Chennai Air Cargo terminal, and landed at various locations, including Los Angeles and New York, with Chicago receiving the majority.

Trump later granted exclusions from steep tariffs on smartphones and some other electronics imported largely from China, but later indicated that those exemptions will likely be short-lived.

To expedite shipments, Apple lobbied Indian airport authorities to cut the time needed to clear customs at Chennai airport in the southern state of Tamil Nadu, to six hours down from 30 hours.

At least six cargo jets were used in the operation which one source described was a way to "beat the tariffs".



Pinterest Shares Surge as Strong Ad Spend Defies Tariff Uncertainty

A keyboard is placed in front of a displayed Pinterest logo in this illustration taken February 21, 2023. (Reuters)
A keyboard is placed in front of a displayed Pinterest logo in this illustration taken February 21, 2023. (Reuters)
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Pinterest Shares Surge as Strong Ad Spend Defies Tariff Uncertainty

A keyboard is placed in front of a displayed Pinterest logo in this illustration taken February 21, 2023. (Reuters)
A keyboard is placed in front of a displayed Pinterest logo in this illustration taken February 21, 2023. (Reuters)

Pinterest shares jumped more than 11% on Friday, after a strong quarterly revenue forecast allayed investor jitters about the uncertainty of advertising spending on its platform amid global economic volatility.

Its robust first-quarter revenue positions it alongside peers Reddit and Facebook-parent Meta, which also saw strong top-line results at a time when deepening global trade tensions have clouded the outlook for many firms dependent on marketing spend.

A shifting US trade policy coupled with escalating geopolitical tensions have sparked fears of a spike in inflation levels and a possible recession, prompting a broader pullback in consumer and enterprise spending.

However, Pinterest's focus on strengthening the effectiveness of its artificial intelligence tools for creating ad campaigns and a growing Gen Z userbase makes it an attractive destination for marketers.

"AI is helping to serve up the right type of ads for different audience segments, which ultimately means there could be a greater propensity to click on the ad if it is relevant," said Dan Coatsworth, investment analyst at AJ Bell.

Pinterest's global monthly active users rose 10% from a year earlier to 570 million in the first quarter, exceeding analysts' expectations according to data compiled by LSEG.

"We believe Pinterest's strategic focus on AI improvements and international expansion is yielding results," said Angelo Zino, senior equity analyst at CFRA Research.

Pinterest flagged a reduction in spending from Asian e-commerce retailers due to the roll-back of the "de minimis" exemption earlier this year, which led notable Chinese advertisers including online marketplace Temu and fast-fashion retailer Shein to slash ad budgets.

Barclays analysts said they expect "trends to worsen in e-commerce advertising" later this year if and when tariffs impact consumer spending.

If gains hold, Pinterest is set to add around $2 billion to its market cap.

The company trades at 14.51 times the estimates of its earnings for the next 12 months, compared with Reddit's 67.65 and Snap's 22.19.