Topline
President Donald Trump on Friday threatened to hit Apple with a 25% tariff unless the company starts manufacturing iPhones in the U.S., just days after he criticized the company for its reported plans to move its smartphone production from China to India in a bid to beat tariffs.
File Photo: President Donald Trump said he warned Apple CEO Tim Cook that he expects iPhones sold in ... More
In a post on his Truth Social platform, Trump said he had “long ago informed” Apple CEO Tim Cook that he expects iPhones sold in the U.S. to be manufactured domestically, “not [in] India, or anyplace else.”
The president said if this were not the case, Apple would be forced to pay a tariff of at least 25% to the U.S.
Apple’s shares tanked more than 3.3% to $194.7 in premarket trading after Trump’s announcement.
In a separate post, Trump attacked the European Union, saying the bloc was “formed for the primary purpose of taking advantage of the United States on TRADE,” and said he will implement a “straight 50% Tariff” on all goods imported from the bloc.
This is a developing story.