President Donald Trump on Friday said he will hit Apple with a tariff “of at least 25%” for iPhones that are produced outside the U.S. — a threat that sent the tech giant’s stock down 3% as the markets opened.
“I have long ago informed Tim Cook of Apple that I expect their iPhones that will be sold in the United States of America will be manufactured and built in the United States, not India, or anyplace else,” Trump posted on Truth Social. “If that is not the case, a Tariff of at least 25% must be paid by Apple to the U.S. Thank you for your attention to this matter!”
The president’s post comes a few weeks after Cook, on Apple’s earnings call, said most iPhones sold in the U.S. during the current quarter will come from India. Cook also said it was difficult to “precisely estimate the impact of tariffs” on Apple, but he said the company projected they would “add $900 million” to its costs between April and June.
Apple’s stock, right as the markets opened on Friday, was down 3% to $195.38 per share. Its share price is down 19.9% since the start of 2025.
The Cupertino-based company is not the first company President Trump has squabbled with over tariffs recently.
Last week, he said Walmart will have to “eat the tariffs” instead of raising prices on items. And in April, the president blasted Amazon for a report it was going to add a feature that shows how tariffs have increased the price of items; Trump said he called Amazon founder Jeff Bezos on the matter and he solved it “very quickly.”
On a related note, the president on Friday morning also said he was recommending a “straight 50% Tariff on the European Union” starting on June 1. Trade discussions with the EU, he said in a Truth Social post, “are going nowhere!”
