00:00It's Benzinga bringing Wall Street to Main Street.
00:02President Trump warned that Apple will face a tariff of at least 25% on iPhones manufactured
00:06outside the United States, according to CNBC. Trump stated on True Social that he previously
00:10told Apple CEO Tim Cook he expects all iPhones sold in the U.S. to be manufactured domestically.
00:16He warned that if Apple continues producing iPhones abroad, a company will face a tariff
00:19of at least 25%. Apple currently manufactures most iPhones in China, but is shifting production
00:25to India. Analysts estimate relocating production in the U.S. to push iPhone prices above
00:29$3,000. The legal basis for the proposed tariff remains unclear.
00:34For all things money, visit Benzinga.com slash GSTV.
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