Apple is shifting more of its iPhone shipments to the US from India in an effort to navigate the financial shockwaves caused by a fresh round of tariffs imposed by President Donald Trump.

The computer giant's stock has dropped 19% in three trading days, the largest decline in over 25 years, due to investor concern about rising costs from new tariffs on Chinese imports, according to Firstpost.

With tariffs of up to 54% on Chinese shipments, Apple has turned to India, where the equivalent rate is 26%. The move is intended as a short-term hedge while Apple seeks tariff exemptions, but the company has not yet overhauled its China-centric manufacturing network, which is still critical to its worldwide supply chain, Firstpost reported.