- President Donald Trump said tariffs of at least 25% would apply to iPhones not made in the US.
- Apple stock fell more than 3% in premarket trading on Friday.
- Trump told Apple CEO Tim Cook that iPhones should be made “in the United States, not India, or anyplace else.”
Apple dipped premarket on Friday after President Donald Trump said iPhones manufactured outside the US would face a tariff of at least 25%.
“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 wrote in a Truth Social post on Friday.
He warned that if Apple failed to comply, the company must pay the US a tariff of “at least” 25%.
Apple stock was down more than 3% just before 8 a.m ET.
Trump also threatened new tariffs against the European Union on Friday.
This is a developing story. Check back for updates.
