Apple redirects 97% of Indian-made iPhones to the US to lessen tariffs
Apple manufacturer Foxconn's iPhone exports to the States have risen from 50% of Indian production to 97%, as Apple tries to mitigate the impact of Trump's tariffs.
Apple manufacturer Foxconn's iPhone exports to the States have risen from 50% of Indian production to 97%, as Apple tries to mitigate the impact of Trump's tariffs.
In an ambiguous post today, President Donald Trump noted that he's close to a deal with China, that's still worse for Apple and the US economy than what was in place before his April tariff program launch.
A U.S. trade court ruled that President Trump's "Liberation Day" tariffs were illegal on Wednesday, but the administration has been granted a temporary stay until arguments are filed.
Despite a US trade court ruling that Trump's "reciprocal" tariffs are illegal, Apple investors have unexpectedly failed to react to the news, likely assuming there is more chaos to come.
The so-called reciprocal tariffs imposed on "Liberation Day" and the trafficking-related tariffs have all been ruled an illegal overreach by the President and have been blocked by a U.S. trade court.
Trump advisor Kevin Hassett has played down the "tiny little tariff" on firms such as Apple and strangely insists consumers won't pay more for iPhones.
Every iPhone buyer in the world may get hit with the side-effects of President Donald Trump's tariffs, as Apple may choose to hike prices everywhere to keep profit margins up.
The extra tariff added to all iPhones imported in the US may not have been about bringing manufacturing back to the US, but specifically to reprimand Tim Cook for skipping a Trump event.
President Trump has revealed that his proposed 25% tariffs on all smartphones coming into the U.S. will take effect in June 2025, well before a single iPhone 17 will ship.
Analyst Ming-Chi Kuo says, perhaps obviously, that Trump's new 25% tariff on Apple shouldn't make the company move manufacturing to the US, because it's still far cheaper to import.
President Trump continues to emphasize that Apple must make the iPhone in the United States, or a steep import tariff will continue to be applied to the company.
President Trump says he has a "little problem with Tim Cook," apparently because Foxconn — a company that Cook is not the CEO of — has been expanding factories in India for years.
The agreement by both the US and China to pause tariffs might make things easier in the very short term, and it may lead to a deal, but it hides that American consumers and firms will still have to deal with extreme expenses and other trade changes that do nothing but harm.
Apple's Tim Cook attended President Trump's gathering of business CEOs via satellite, and committed the company to working with the administration.
Reports of Amazon planning to display the specific impact of President Trump's tariffs on everything it sells, angered the White House — but now the retailer claims there was never any such plan for the main site.
The lack of strategy in the Trump administration's execution of tariffs continues, as the President promises to "set the tariff" on entities that don't make deals in the "next couple of weeks."
It's no secret that Apple and other big tech companies have been making moves to earn President Trump's favor, but Senator Warren wants details on these interactions to determine if lines were crossed.
While the European Union has now fined Apple for what it claims is non-compliance with its Digital Markets Act, the sum involved has been kept low to avoid increasing EU/US trade tensions.
Apple could be severely affected as Trump reportedly pressures countries to limit their business dealings with China, which will result in more retaliations against US companies.
The European Union has reportedly postponed fining Apple and Meta over alleged Digital Markets Act violations, specifically so the decision would not affect trade negotiations.
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