President Donald Trump on Friday threatened to put a 25% tariff on Apple products unless iPhones are manufactured in the United States.
The threat delivered over social media could dramatically increase the price of iPhones, potentially hurting sales and the profits of one of America's leading technology companies, reports AP.
The company now joins Amazon, Walmart and other major companies as being in the White House's crosshairs as they try to respond to the uncertainty and inflationary pressures unleashed by the import taxes being imposed by Trump.
Trump downplays Putin decision to skip Istanbul talks with Zelenskyy
“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 posted on Truth Social. “If that is not the case, a Tariff of at least 25% must be paid by Apple to the US”
Apple, led by CEO Tim Cook, in response to Trump's tariffs on China was looking to shift iPhone manufacturing to India as it adjusts supply chains. That plan has become a festering source of frustration for the US president, who also brought it up last week during his Middle East trip.