The threat delivered over social media could dramatically increase the price of iPhones, potentially hurting sales and the profits of one of America’s leading technology companies. The company now joins Amazon, Walmart and other major companies as being in the White House’s crosshairs as they try to respond to the uncertainty and inflationary pressures unleashed by the import taxes being imposed by Trump.
“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,” 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.”
Apple, led by CEO Tim Cook, in response to Trump’s tariffs on China was looking to shift iPhone manufacturing to India as it adjusts supply chains. That plan has become a festering source of frustration for the U.S. president, who also brought it up last week during his Middle East trip.
USA will become a lot poorer without cheap imports. Trump is forcing production on things in USA that aren’t very profitable, and they have zero chance of exporting.
USA has some of the highest profit industries especially in services, these things will now be attempted by every country in the world to be sourced more locally.
The net result is 100% certain to be that USA will lose profits big time, especially in their most profitable service industries.
Have fun Americans paying high taxes on things that still doesn’t pay to make in USA, and force higher taxes on the middle class and below, while the 1% pay less taxes than ever!