UNITED STATES: US President Donald Trump has warned that “a tariff of at least 25% must be paid by Apple to the US” if it does not manufacture its iPhones in America, The Edge Singapore reported, citing the US President’s post on Truth Social on Friday.
He said he long ago informed Apple CEO Tim Cook that all iPhones sold in the US should be manufactured and built in America, “not India, or anyplace else”.
After his announcement, US equity futures dropped, led by the decline of Nasdaq 100 contracts. Apple shares also sank 4%.
CNN Business reported that the US President said the tariff would apply to any phone maker that is selling devices in the country, “otherwise it wouldn’t be fair.”
“It would be also Samsung and anybody that makes that product,” the US President told reporters in the Oval Office after signing executive orders on Friday.
Apple relies heavily on China for iPhone production, as the company lacks domestic engineering and manufacturing talent. In February, the company announced it will be investing US$500 billion (S$669.44 billion) in the US over the next four years, hiring 20,000 research and development talents. /TISG
Read also: Apple CEO Tim Cook praises Chinese developers’ creativity as ‘second to none’
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