US President Donald Trump (r) and Apple CEO Tim Cook speak to the press during a tour of the Flextronics computer manufacturing facility where Apple’s Mac Pros are assembled in Austin, Texas, on November 20, 2019.
Mandel Ngan | AFP | Getty Images
President Donald Trump said in a social media post Friday morning that Apple will have to pay a tariff of 25% or more for iPhones made outside the United States.
“I have long ago informed Tim Cook of Apple that I expect their iPhone’s that will be sold in the United States of America will be manufactured and built in the United States, not India, or anyplace else. If that is not the case, a Tariff of at least 25% must be paid by Apple to the U.S.,” Trump said on Truth Social.
Shares of Apple fell more than 2% in premarket trading.
Production of Apple’s flagship phone happens primarily in China, but the country has been shifting production to India in part because that country has a friendlier trade relationship with the United States.
Some Wall Street analysts have estimated that moving iPhone production to the U.S. would raise the price of the Apple smartphone by at least 25%.
This is the latest jab at Apple from Trump, who over the past couple weeks has ramped up pressure on the company and Cook to increase domestic manufacturing. Politico previously reported that Trump and Cook met at the White House on Tuesday.
Apple declined to comment for this story.
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