The once-solid relationship between President Trump and Apple CEO Tim Cook is breaking down over the idea of making iPhones in the U.S. Trump threatened to slap a 25% tariff on iPhones made outside the U.S. in a social media post.
“I have long ago informed Tim Cook of Apple that I expected their iPhones that will be sold in the [U.S.] will be manufactured and built in the [U.S.], not India, or anyplace else,” Trump wrote, adding, “If that is not the case, a tariff of at least 25% must be paid by Apple to the U.S.”
Apple is reportedly looking to release a pair of smart glasses by the end of next year in a bid to compete with Meta's AI-powered glasses, the Ray-Ban Meta.
The tariff talk is back. President Trump threatened 50% tariffs against the E.U.
Apple Inc (NASDAQ:AAPL, ETR:APC) shares moved almost 4% lower before Friday's opening bell after US president Donald Trump threatened to impose a 25% tariff on Apple products unless iPhones sold in the United States are manufactured domestically rather than in countries like India or China. Apple has been shifting some of its iPhone manufacturing to India as part of its supply chain diversification in response to Trump's tariffs on China.
The president threatened both Apple and the European Union with higher tariffs on social media Friday morning, saying that trade talks with the Europeans had stalled.
President Donald Trump said Apple must pay a 25% tariff if it doesn't rely on domestic production of iPhones for the U.S. market
This is a developing story.
President Donald Trump warned Apple that the company could face a 25% tariff if it does not shift iPhone manufacturing to the United States.
Donald Trump has threatened to impose 50% tariffs on the EU, starting from next month, after saying that trade talks with Brussels were "going nowhere".
Shares of Apple were under pressure on Friday after Trump's post on Truth Social.
Apple on Friday raised the amount of money people can get off their next iPhone in China by trading in their old device. The move signals Apple's desire to spur more sales in China, where it has faced falling market share and declining sales amid tougher competition from Xiaomi and Huawei.