China, US extend pause on 24% reciprocal tariffs
China and the US have agreed to extend the pause on 24% reciprocal tariffs after two days of trade talks in Sweden, Chinese trade official Li Chenggan...
President Donald Trump on Friday threatened a 25% import tax on iPhones made outside the U.S. and called for a 50% tariff on all EU imports starting in June, pressuring Apple and escalating his broader trade stanc
In a post on Truth Social, Trump said he had already told Apple CEO Tim Cook that iPhones sold in the U.S. must be built domestically.
“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 posted. “If that is not the case, a Tariff of at least 25% must be paid by Apple to the U.S.”
Trump’s message could mean higher iPhone prices for consumers and more pressure on Apple’s profit margins. The company joins Amazon, Walmart, and other corporate giants that have come under fire from Trump as he pushes for U.S.-based manufacturing and blames foreign supply chains for inflation.
Apple had begun shifting iPhone production to India in response to earlier tariffs on Chinese imports — a move that has frustrated Trump, who raised the issue again during his recent Middle East trip.
In the same post, Trump also recommended a 50% tariff on all imports from the European Union starting in June, escalating his trade stance ahead of the summer and potentially setting up a major economic clash with key allies.
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China and the US have agreed to extend the pause on 24% reciprocal tariffs after two days of trade talks in Sweden, Chinese trade official Li Chenggang announced Tuesday.
The United Kingdom will formally recognise the State of Palestine at the United Nations in September if Israel fails to take "substantive steps" to end the humanitarian crisis in Gaza, British Prime Minister Keir Starmer said.
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