16:56 - 23.05.2025

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May 23, Fineko/abc.az. U.S. President Donald Trump has threatened Apple Inc. to impose a duty of "at least 25%" on iPhones sold in the U.S. if they are manufactured outside the country.

ABC.AZ informs that amid this news, Apple shares fell by 3% in preliminary trading on Friday.

"I have long told Tim Cook (Apple CEO) that I expect iPhones sold in the U.S. to be manufactured in the U.S., and not in India or anywhere else. If this does not happen, Apple will have to pay a duty of at least 25%," Trump wrote on Truth Social.

Apple produces the iPhone mainly in China and India.

The Financial Times wrote that Taiwan's Hon Hai Precision Industry Co. (Foxconn Technology) is embarking on a project to build a $1.5 billion display module manufacturing plant in India. The company will produce components for Apple devices.