NEW YORK: Apple plans to redirect more of the iPhones it produces in India to be sold in US in order to avoid higher Chinese tariffs, The Wall Street Journal reports. Apple also plans to increase iPhone production in India. That’s because while the 26% reciprocal tariffs on Indian goods are high, they’re lower than the 34% (for 54% total at minimum) levies on goods from China, where the vast majority of iPhones are made.
That China number could get even higher. Today President Trump threatened additional 50% tariffs after China retaliated for last week’s tariffs. Meanwhile, India has signaled it’s unlikely to retaliate, so it seems like a safer port for the iPhone, which accounts for about half of Apple’s total revenue.
It doesn’t seem like the tariffs are going to bring iPhone production to America, as Commerce Secretary Lutnick promised over the weekend. The WSJ reports the changes are a short-term stopgap measure while Apple attempts to win an exemption from Trump’s tariffs, like it did during his first presidency. Apple’s stock closed down 3.6% today and has sunk nearly 15% in the past week.
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