In the latest jab at Apple, US President Trump stated that the Cupertino-based tech giant will be required to pay a tariff of 25% or more for iPhones that are manufactured outside the US.
In a social media post on Friday morning, Trump said:
“I have long ago informed Tim Cook of Apple that I expect their iPhone’s that will be sold in the United States of America will be manufactured and built in the United States, not India, or anyplace else. If that is not the case, a Tariff of at least 25% must be paid by Apple to the US.”
Over the past few weeks, US President Donald Trump has exerted pressure on Apple’s CEO Tim Cook to increase domestic manufacturing, as the company’s production of flagship devices occurs mainly in China and now has been shifting to India.
Apple faced decline in premarket trading
Notably, the company saw a 3% decline in premarket trading.
A few Wall Street analysts projected that moving iPhone production to the US would increase the price of the Apple flagship phones by nearly 25%.
Trump followed his Apple post with another one asking for a 50% tariff on EU products. These posts indicate increasing trade tensions again, despite earlier tariff cuts, including with China.
To note, Apple is currently facing a decline in demand in China. On Friday the company increased trade-in incentives for iPhones in China.
Apple refused to comment on this story.
