U.S. tariffs on Vietnam, imposed under the trade deal President Donald Trump unveiled on Wednesday, are expected to do relatively little damage to Apple’s margins, even though the company is shifting production of many devices there.

President Donald Trump's new trade deal with Vietnam dramatically hikes import costs for Apple's hardware including AirPods, almost all iPads, and the Mac mini.

Vietnam finds itself caught between its two biggest trading partners as the Trump administration tries to stop Chinese exporters using Vietnam as a way station.