President Donald Trump has threatened to impose a 25 percent tariff on Apple if the tech giant does not manufacture iPhones in the United States.
In a May 23 statement posted on social media platform Truth Social, Trump wrote: “I have long ago informed Tim Cook of Apple that I expect their iPhone’s that will be sold in the United States of America will be manufactured and built in the United States, not India, or anyplace else. If that is not the case, a Tariff of at least 25 percent must be paid by Apple to the U.S.”
Shares of Apple fell by 3.5 percent in premarket trading. Apple currently makes more than 90 percent of its products in China….