Trump threatens Apple with 25% tariff over iPhone manufacturing
US president Donald Trump has warned Apple that the company will have to pay a tariff of at least 25% on iPhones manufactured outside the United States.
Trump stressed that he had previously asked Apple CEO Tim Cook to manufacture iPhones for the US market domestically, not in India or other countries.
Apple was actually moving a significant portion of its iPhone production to India, partly in response to earlier tariffs on Chinese goods. Foxconn, a major supplier to Apple, announced it was investing $1.5 billion in its Indian operations.
The threat of new tariffs prompted an immediate reaction in financial markets: Apple shares fell more than 3% in pretrading Friday, and the broader technology sector also experienced losses.
Analysts warn that moving iPhone production to the US would incur significant costs, which could result in higher prices for consumers.
In addition to Apple, Trump is also turning his attention to the European Union, with the threat of a 50% tariff on all EU imports starting 1 June 2025, unless a fair trade deal is reached.
Apple CEO Tim Cook contributed $1 million to Trump’s inauguration fund.
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