Trump says Apple must pay a 25% tariff on iPhones not made in the U.S.
Publishing timestamp: 2025-05-23 11:26:49
Summary
President Trump threatens Apple with a 25% tariff on iPhones made outside the US, leading to a 3% drop in Apple's shares. Trump is pressuring Apple to increase domestic manufacturing, with potential tariffs also applying to other smartphone manufacturers. Apple has been shifting manufacturing to India, but Trump insists on US production. Apple has announced a $500 billion spend on US development, but faces additional costs for tariffs. Foxconn, one of Apple's main assembly partners, is expanding its India facilities. Trump's trade tensions are increasing, with threats of tariffs on European Union products. Apple has to navigate tariff threats while also facing weak demand in China.
Sentiment: MIXED
Keywords: markets, iphone, business news, walmart inc, donald trump, politics, china, tariff, tim cook, apple inc, breaking news: politics, technology, breaking news: technology, united states, india, breaking news: markets,
Source: https://www.cnbc.com/2025/05/23/trump-tariff-apple-iphones-not-made-in-the-us.html