Overview

• President Donald Trump announced on Truth Social that any iPhones sold in the U.S. but not built domestically would incur a 25% tariff.
• The tariff threat followed reports that Apple CEO Tim Cook declined to join Trump’s recent Middle East tour, prompting the president to target Apple publicly.
• Apple is shifting more iPhone assembly to India, with Foxconn committing $1.5 billion to a new Chennai plant and planning to source most U.S.-bound devices there this quarter.
• Wedbush analyst Dan Ives and others warn that moving production to the United States could push iPhone prices above $3,000, making U.S. assembly economically unfeasible.
• Tariffs on all non-U.S. smartphones would also affect Samsung’s India and Vietnam output, risking broader price hikes and supply disruptions for American consumers.