The Daily Populous Saturday May 24th, 2025 night edition
Authored by m.economictimes.com and submitted by _NowiCanSeeYouBeYou_

(You can now subscribe to our

(You can now subscribe to our Economic Times WhatsApp channel

U.S. President Donald Trump on Friday issued a strong warning to Apple CEO Tim Cook , saying iPhones sold in the United States must be made in America — not in India or any other country — or face a tariff of at least 25%."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," said the US President in a post on Truth Social.If that is not the case, a tariff of at least 25% must be paid by Apple to the US, warned Trump in his post.Shares of the iPhone maker fell more than 3% on the news in premarket trading.Apple, led by Cook, in response to Trump's tariffs on China was looking to shift iPhone manufacturing to India as it adjusts supply chains. That plan has become a festering source of frustration for the U.S. president, who also brought it up last week during his Middle East trip.“I had a little problem with Tim Cook yesterday,” Trump said. “He is building all over India. I don’t want you building in India.” As a result of their discussion, Trump said Apple will be “upping their production in the United States.”These remarks disrupt Apple’s plan to source the majority of its US iPhone supply from India by the end of next year, a move aimed at reducing dependence on China amid tariff and geopolitical concerns. Apple makes most of its iPhones in China and has no smartphone production in the US.Apple and its suppliers have accelerated a pivot away from the world’s No. 2 economy, a process that began when harsh Covid lockdowns hurt production at its largest plant.The bulk of India-made iPhones are assembled at Foxconn Technology Group’s factory in southern India. Tata Group’s electronics manufacturing arm, which bought Wistron Corp.’s local business and runs Pegatron Corp.’s operations in India, is also a key supplier. Tata and Foxconn are also building new plants and adding production capacity in southern India, Bloomberg News reported previously.Apple assembled $22 billion worth of iPhones in India in the 12 months through March, increasing production by nearly 60% over the previous year.

Arec_Barwin on May 23rd, 2025 at 16:22 UTC »

Its market manipulation. His cronies will buy up Apple stock as it drops, then he'll announce some deal with Apple, or put the tariff on hold and his cronies will make billions as the stock rebounds.

Hikarilo on May 23rd, 2025 at 16:10 UTC »

Even with 25% tariffs, it will still be cheaper to produce in India than in the US.

ZanzerFineSuits on May 23rd, 2025 at 16:10 UTC »

I thought a fundamental Republican philosophy was "keep the government out of businesses' way"?