- Apple Inc.
- 23 May 2025 13:52:42
Source: Sharecast
The comments, posted Friday on Trump’s social media platform Truth Social, followed weeks of public criticism aimed at Apple and its chief executive officer Tim Cook over the company’s overseas manufacturing.
Apple, which primarily produces its iPhones in China, was increasingly shifting operations to India amid escalating trade tensions.
However, Trump insisted that iPhones sold in the US should be “manufactured and built in the United States”, warning that otherwise, a substantial tariff would apply.
The post triggered a drop in Apple’s stock, with shares falling in premarket trading.
According to CNBC, analysts were warning that relocating iPhone production to the US could dramatically raise retail prices, with Dan Ives at Wedbush estimating that an American-made iPhone could cost up to $3,500, compared to the current $1,000 price tag of the iPhone 16 Pro.
The threat came despite Apple’s previously-announced $500bn investment in US development, including AI server production in Texas.
It had not commented on Trump’s latest remarks by the open on Wall Street, although it had acknowledged uncertainty around tariffs, projecting $900m in additional costs this quarter alone.
Trump also called for a 50% tariff on European Union imports, signaling a broader escalation in trade rhetoric, although the legal pathway for imposing such tariffs remained unclear.
At 0847 EDT (1347 BST), shares in Apple were down 3.31% in premarket trading in New York, at $194.70.
Reporting by Josh White for Sharecast.com.