Officials from the U.S. and China announced a 90-day pause on elevated tariff rates imposed on one another, signaling a major de-escalation in trade tensions. Apple, which makes the bulk of its iPhones in China, could have been severely impacted had current policies stayed in place. Shares of consumer tech giant Apple (NASDAQ: AAPL) traded over 5% higher, as of 11:51 a.m. ET today, after officials from the U.S. and China announced a 90-day pause on extremely high tariffs rates, setting the stage for a broader trade agreement.