President Trump took to the Truth social media platform and warned Apple that the firm would have to…

President Trump took to the Truth social media platform and warned Apple that the firm would have to pay a 25% tariff if its American market iPhones are not built in the US. Trump said, “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.“

The President added, “If that is not the case, a Tariff of at least 25% must be paid by Apple to the US.“

Also Read: Apple’s Expansion in India Defies Trump: Is $250 AAPL the Next Stop?

Apple Shares Slide Amid Tariff Warnings

Apple (AAPL) shares fell 3.26% in the pre-market after Trump’s latest tariff warning. President Trump went on a tariff spree soon after assuming office. Most nations have come to terms with his policies. Many have brokered new trade deals to better suit the new administration’s vision.

The company set its sights on India for its iPhone manufacturing unit. The move came after President Trump imposed high tariffs on Chinese-made goods. The world’s second-largest tech company is yet to comment on the latest tariff threat.

Also Read: Apple (AAPL) May Lose $20B in Revenue & The Stock Could Suffer

Many worry that prices may shoot up if iPhone production moves to India. It is possible that Apple will move a part of its production to America. These phones may be strictly for American consumers within the US. The company may choose to manufacture the iPhone for the global market elsewhere.

Today’s statement is not the first time President Trump has spoken about Apple’s iPhone manufacturing. In a recent trip to Qatar, President Trump highlighted that he does not want Tim Cook to move iPhone production to India.

Also Read: Apple Stock (AAPL) Hits $211 as Trump Tells Tim Cook, “No Building in India”

Apple is yet to comment on the matter. It remains unclear how the tech giant will deal with the tariff threat while meeting global iPhone demands.