Trump Threatens Tim Cook To Manufacture iPhones In US Or Face 'At Least 25%' Tariffs: AAPL Stock Slides Over 3% In Premarket

U.S. President Donald Trump has demanded that iPhones sold in the U.S. be manufactured domestically, threatening a 25% tariff on Apple Inc. AAPL otherwise.

What Happened: On Friday, Trump took to his Truth Social to reiterate his expectations to Apple’s CEO, Tim Cook, that iPhones sold in the U.S. should be “manufactured and built” domestically and not in India.

He warned of a substantial tariff of “at least 25%” if this is not the case.

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Why It Matters: This came after Apple reportedly plans to ramp up its presence in India by expanding its supply chain operations through its leading manufacturing partner, Foxconn, officially known as Hon Hai Precision Industry Co. Ltd. HNHAF. Foxconn plans to invest $1.5 billion in a new display module plant near Chennai, India, assembling screen components for iPhones.

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Despite Trump’s criticism, India, earlier, said it remains committed to its growing partnership with Apple. The Tim Cook-led company has reassured the Indian government of its commitment to continue using India as a major manufacturing base. This assurance comes despite Trump's recent remarks, with government sources emphasizing that there is "no change" in Apple's investment plans in India.

Price Action: Apple shares dipped over 3% during Friday’s premarket session, according to Benzinga Pro.

Benzinga Edge Stock Rankings assigned Apple a growth score of 33.12%. Click here to compare it with other major players.

• READ MORE: Trump’s ‘Big, Beautiful’ $3.8 Trillion Bill Squeaks Through House: Expert Says It Will ‘Boost The Economy In The Short Term,’ But Worsen Deficits

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.