President Donald Trump announced plans to impose a 25% tariff on iPhones not manufactured in the United States, escalating pressure on Apple to shift its production domestically.
The move aligns with Trump’s broader strategy to bolster U.S. manufacturing and curb dependency on foreign supply chains.
Apple, which currently produces most iPhones in China and India, would face major logistical hurdles in reshoring its operations.
Following the announcement, Apple’s stock dropped 4%, dragging the broader market down with the Dow shedding over 300 points.