Washington: US President Donald Trump has ramped up pressure on Apple and other global smartphone manufacturers, threatening to impose a 25 percent tariff on iPhones not built within the United States.
The move, aimed at forcing domestic production, sent Apple’s stock into a downward spiral, erasing approximately $70 billion from its market value.
Trump issued the warning via his Truth Social platform, declaring that iPhones sold in the US must be manufactured on American soil, not in India or elsewhere.
The comments triggered an immediate market reaction, with Apple shares falling 2.6 percent, pushing the company’s valuation just below the $3 trillion mark. The US is Apple’s largest iPhone market, accounting for over 60 million units in annual sales.
Trump’s remarks were not limited to Apple. Speaking at the White House, he said Samsung and other foreign manufacturers would also face the same 25 percent import duty unless they shift production to the US.
The president’s comments come amid ongoing tensions over global supply chains. Last month, his proposed tariffs on Chinese imports surged to 145 percent, prompting fears of a renewed trade war. Though smartphones and computers were later exempted, uncertainty has remained.
In a strategic response, Apple has begun relocating production for US-bound iPhones to India. CEO Tim Cook recently confirmed that the majority of iPhones sold in the US this quarter would originate from Indian facilities. Currently, around 90 percent of iPhones are assembled in China.
Trump sharply criticized the move, stating that, “I had a little problem with Tim Cook. I said to Tim … now you got to build [for] us. We’re not interested in you building in India… we want you to build here.”
