Donald Trump issues warning to Apple and Samsung

The President says he will implement a 25% tariff if phones are made outside of the U.S.

Transcript

00:00President Trump has issued a direct warning to Apple and Samsung,

00:03make your phones in the US or get hit with a 25% tariff.

00:07Trump took to social media to address Apple CEO Tim Cook directly, writing,

00:10I have long ago informed Tim Cook of Apple that I expect their iPhones that will be

00:14sold in the United States of America will be manufactured and built in the United States,

00:19not in India or anyplace else. Less than 24 hours before Trump's message,

00:23Apple had reportedly been making plans with its key supply partner Foxconn for a $1.5 billion

00:29plant in India. The Foxconn facility in India will assemble key screen components for iPhones.

00:34Earlier this month, Cook said the company would incur almost a billion dollars in costs directly

00:38related to tariffs, but it could have been much worse had Trump not made electronics exempt from

00:43tariffs on China. A new iPhone costs about $1,200, but industry analysts say an American-made iPhone

00:49could cost nearly triple that. That'll do it for your daily briefing. From New York City,

00:53I'm Kelsey Barbario with The Street.

00:59www.the-air.com

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