India, April 9 -- On April 2nd, the U.S. announced a new round of reciprocal tariffs, followed by a provision allowing exemption for goods with more than 20% "U.S. value".

TrendForce's latest observations reveal that the lack of macroeconomic improvement since 2024, coupled with the inflationary and recessionary risks posed by these new tariffs, has prompted a downward revision of the 2025 shipment outlook for several end-device markets-including AI servers, servers, smartphones, and notebooks.

Stronger-than-expected shipments of servers, smartphones, and notebooks in 1Q25 were largely driven by brands advancing shipments to the U.S. ahead of the new tariff implementation. TrendForce notes that supply chain players are still evaluating ...