Last week, the president said he had warned Apple CEO Tim Cook against expanding iPhone production in India.
Key Facts
In a post on his Truth Social platform, Trump said he had “long ago informed” Apple CEO Tim Cook that he expects iPhones sold in the U.S. to be manufactured domestically, “not [in] India, or anyplace else.”
The president said if this were not the case, Apple would be forced to pay a tariff of at least 25% to the U.S.
Apple’s shares tanked more than 3.3% to $194.7 in premarket trading after Trump’s announcement.
In a separate post, Trump attacked the European Union, saying the bloc was “formed for the primary purpose of taking advantage of the United States on TRADE,” and said he will implement a “straight 50% Tariff” on all goods imported from the bloc.
