In a recent announcement, President Donald Trump declared that iPhones produced outside of the United States would be subjected to tariffs of at least 25%. This move aims to compel Apple, led by CEO Tim Cook, to manufacture iPhones domestically rather than in countries like India. Following the announcement, Apple’s stock saw a drop of over 3% in premarket trading. Furthermore, Trump hinted at potential new tariffs targeting the European Union, indicating broader trade tensions might be on the horizon.
"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," Trump wrote in a Truth Social post on Friday.
Tariffs of at least 25% would apply to iPhones not made in the US, as President Trump emphasizes local manufacturing to protect American jobs.
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