“Not India, Anyplace Else”: Trump warns of 25% tariff on non-US made iPhones

Donald Trump said on Friday that Apple would have to pay a 25% tariff if phones sold in the country were not made within its borders.

Shares of Apple dropped 2.5% in premarket trading on Trump’s warning, dragging down US stock index futures lower.

“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 said in a post on Truth Social.

“If that is not the case, a Tariff of at least 25% must be paid by Apple to the US”