Donald Trump<\/a> announced that the tariffs he threatened against Apple Inc earlier Friday would also be aimed at a wider range of device makers.<\/p>\n\n\n\nThis threat is also given to Samsung Electronics Co as to spur them into moving manufacturing of their products to the US.<\/p>\n\n\n\n
Interestingly when asked at the White House whether his tariff threat would only apply to Apple Trump said “It would be more.\u201d<\/p>\n\n\n\n
He said, “It would also be Samsung and anybody that makes that product, otherwise it wouldn’t be fair.” <\/p>\n\n\n\n
Moving ahead, he indicated that the import levies would be “appropriately done” and ready for implementation by the end of June, but provided no other details.<\/p>\n\n\n\n
Friday morning, Trump wrote on Truth Social, “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.”<\/p>\n\n\n\n
He added, “If that is not the case, a Tariff of at least 25% must be paid by Apple to the US.”<\/p>\n\n\n\n
This announcement had a huge impact as it wiped approximately $70 billion off Apple’s market value, with shares falling 2.6% and pushing the company’s valuation just below $3 trillion.<\/p>\n\n\n\n
Further, Trump clarified that the tariff would extend beyond Apple to include all smartphone manufacturers.<\/p>\n\n\n\n
“When they build their plant here, there is no tariff,\u201d Trump said.<\/p>\n\n\n\n
The timing of this threat is crucial as Apple has rapidly expanded manufacturing in India, producing $22 billion worth of iPhones there last year, almost a 60% increase from the previous year. <\/p>\n\n\n\n
Earlier, Apple CEO Tim Cook announced that most iPhones sold in the US this quarter would be made in India.<\/p>\n\n\n\n
Smartphones May Get More Expensive<\/strong> <\/p>\n\n\n\nTrump appears to have expressed frustration with Cook’s strategy during recent meetings.<\/p>\n\n\n\n
Saying, “He said he’s going to India to build plants. I said, that’s okay to go to India, but you’re not going to sell into here without tariffs, and that’s the way it is.” <\/p>\n\n\n\n
In the meantime, the Industry experts warn that moving smartphone production to the US would be prohibitively expensive owing to the lack of existing facilities and skilled workforce. <\/p>\n\n\n\n
Apparently, an iPhone manufactured in America could cost between $1,500 and $3,500, compared to the current $1,200 price point, according to analysts at Wedbush Securities. <\/p>\n\n\n\n
The updated tariffs will be applicable “at the end of June,” according to Trump, as part of his broader push to bring manufacturing jobs back to America.<\/p>\n","protected":false},"excerpt":{"rendered":"
Recently, President Donald Trump threatened to impose a 25% import tariff on all smartphones manufactured outside the United States. It appears that he is targeting all the major companies including Apple and Samsung unless they move production to American soil. 25% Import Tariff To All The Smartphones President Donald Trump announced that the tariffs he […]<\/p>\n","protected":false},"author":27,"featured_media":1295629,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22],"tags":[212,6394],"class_list":["post-1295617","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-samsung","tag-tariff"],"acf":[],"yoast_head":"\n
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