President Trump warned that Apple will face a tariff of at least 25% on iPhones manufactured outside the United States, according to CNBC. Trump stated on Truth Social that he previously told Apple CEO Tim Cook he expects all iPhones sold in the U.S. to be manufactured domestically. He warned that if Apple continues producing iPhones abroad, the company will face a tariff of at least 25%. Apple currently manufactures most iPhones in China but has been shifting production to India. Analysts estimate relocating production to the U.S. could push iPhone prices above $3,000. The legal basis for the proposed tariff remains unclear.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02President Trump warned that Apple will face a tariff of at least 25% on iPhones manufactured
00:06outside the United States, according to CNBC. Trump stated on True Social that he previously
00:10told Apple CEO Tim Cook he expects all iPhones sold in the U.S. to be manufactured domestically.
00:16He warned that if Apple continues producing iPhones abroad, a company will face a tariff
00:19of at least 25%. Apple currently manufactures most iPhones in China, but is shifting production
00:25to India. Analysts estimate relocating production in the U.S. to push iPhone prices above
00:29$3,000. The legal basis for the proposed tariff remains unclear.
00:34For all things money, visit Benzinga.com slash GSTV.