Levies on Chinese goods have created worst three-day rout for iPhone maker in about 25 years.

In the final week of March, five cargo planes departed India in quick succession. Their payload? Thousands of freshly manufactured iPhones, bound for warehouses across the United States. The urgency was unmistakable as Apple was racing against the clock for an unusual logistical operation that was completed in just three days.

The iPhone 16 Pro Max 256 GB, which like most iPhones is assembled in China, retails for $1,199. Under the new tariffs on Chinese imports, the price of the device could rise $350, or 29%, lifting the price tag to $1,549, data from UBS Investment Research shows.