Trump threatens Apple with a 25 percent iPhone tariff
a year ago
- #Tariffs
- #Manufacturing
- #Apple
- President Donald Trump threatens Apple with a 25% tariff on iPhones unless production moves to the US.
- Trump warns Tim Cook that iPhones sold in the US must be manufactured domestically, or face tariffs.
- Apple is diversifying production, with FoxConn investing $1.5 billion in a new Indian plant for iPhone displays.
- India currently has a 10% tariff, while China faces 30%, but exemptions apply to most Apple products.
- Apple has pledged $500 billion in US investments, but experts doubt a 'Made in America' iPhone is feasible.
- Steve Jobs once told Barack Obama that manufacturing jobs in the US are unlikely to return.