'Apple negotiated badly,' says analyst as Trump takes aim at iPhone maker
US President Donald Trump threatened once again on May 23, 2025 to ramp up his trade war, recommending a 50 percent tariff on European Union goods starting June 1 and warning Apple he may impose a 25 percent tariff on any iPhones manufactured outside the US. Trump did not give a timeframe for any Apple tariffs. Shares of Apple fell 2.3 percent in early trading. More than 60 million phones are sold in the United States annually, but the country has no smartphone manufacturing. Apple is speeding up plans to make most of its iPhones sold in the United States at factories in India by the end of 2026 to navigate potentially higher tariffs in China, its main manufacturing base, a source told Reuters.
REUTERS VIDEO
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