By Adam Clark
Apple shares were dropping on Friday after President Donald Trump threatened a 25% tariff on its iPhones sold in the U.S. unless they are made stateside.
"I have long ago informed Tim Cook of Apple that I expect their iPhone's that will be sold in the United States of America will be manufactured and built in the United States, not India, or anyplace else," Trump said in a post on his social-media platform, Truth Social.
"If that is not the case, a Tariff of at least 25% must be paid by Apple to the U.S.," the president wrote.
Apple shares were down 2.6% in premarket trading.
Write to Adam Clark at adam.clark@barrons.com
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(END) Dow Jones Newswires
May 23, 2025 07:46 ET (11:46 GMT)
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