Trump calls on Tim Cook to stop iPhone production in India
During a state visit to Qatar, Donald Trump said he had asked Apple CEO Tim Cook to stop expanding iPhone production in India. This was reported by Bloomberg.
Here's What We Know
Trump noted that the day before he had a small dispute with Tim Cook because he was expanding Apple's production in India. According to Trump, India has offered the US favourable terms, including almost zero duties. However, he made it clear to Tim Cook that the United States treats Apple well and has put up with the company's production facilities in China for years. At the same time, he stressed that the US is not interested in moving production to India, as he believes that the country can handle it on its own.
Trump also said that after the conversation, Apple would increase production in the US.
Last fiscal year, Apple produced $22bn worth of iPhones in India, up almost 60% year-on-year. The company planned to import most iPhones from India to the US by the end of 2025.
However, Trump's statement may change these plans. In recent years, Apple has been actively reducing its dependence on Chinese factories, including Foxconn.
Tim Cook confirmed in his latest report that Apple does not want to concentrate production in one region. He also reminded about investments in the US: $500 billion in 4 years and a new plant in Texas that will start operating this year.
Source: Bloomberg
