Donald Trump WARNS Apple of 25 per cent tariff if iPhones sold in US are made in 'India or anywhere else'

US President Donald Trump on Friday warned Apple of 25 per cent tariff if phones sold in the country are not manufactured within the country. In a post on Truth Social, the US president revealed that he had informed Apple CEO Tim Cook that iPhones sold in America are to be built within the country. 

"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," Donald Trump stated in the post. 

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

"Don't want you building in India"

Pertinent to note that the US president, earlier last week, said in Qatar that he doesn't want Apple to be building iPhones in India. "I had a little problem with Tim Cook yesterday. He is building all over India. I don’t want you building in India," he said, adding Apple will be "upping their production in the US".

Over the past five years, India has emerged as one of the biggest manufacturing hubs of Apple iPhones, with the company's assembly lines producing smartphones worth USD 22 billion in 12 months last financial year. 

Pertinent to note that Apple is viewing India as an alternative manufacturing base after Trump's tariffs on China raised concerns over supply-chain and higher iPhone prices, as reported by Reuters. However, in February, Apple had announced that it would invest than USD 500 billion in the US over the next four years and hire 20,000 staff. 

According to Bloomberg, US equity futures dropped to session lows after Trump’s announcement, with Nasdaq 100 contracts leading the decline. Apple shares also decreased by 4 per cent.