The removal of de minimis for products originating from China and Hong Kong exposes those goods to tariffs of 145% on most Chinese goods.

With the end of a U.S. tariff exemption for small parcels on Friday, some retailers have stopped selling to customers in the United States while others are seeking temporary workarounds in the hope the tariff rate may be reduced.

That is how much tariffs will add to Apple's costs this quarter, assuming existing policies remain in place, said Chief Executive Tim Cook. He forecast the hit could worsen further ahead. Shares in the iPhone maker fell nearly 3% in premarket trading.

Trump's tariffs will cost Apple about $900 million in Q2, but Tim Cook says most iPhones sold in the US will come from India, meaning lower tariffs and, hopefully, no price hikes for you.

Amid a backdrop of ongoing tariff uncertainty, more and more gamers are facing price hikes. Microsoft raised recommended retailer pricing for its Xbox consoles and controllers around the world this week.

Microsoft's Xbox is hiking the prices of its gaming consoles, controllers, first-party titles and other accessories, following similar moves by competitors due to U.S. tariffs impacting global supply chains.

Microsoft announced it would be raising the prices of Xbox consoles, controllers and video games thanks to "market conditions."

The jobs market was expected to slow in April, but the new report from the Labor Department showed the labor market is weathering tariff uncertainty.

US employers added 177,000 jobs in April as Trump's tariffs took effect; unemployment at 4.2%, April jobs report shows.