The California-based tech giant intends to source all of the 60 million iPhones it sells annually in the U.S. from India by the end of next year, as part of its efforts to evade punishing tariffs on China. (Financial Times)
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The California-based tech giant intends to source all of the 60 million iPhones it sells annually in the U.S. from India by the end of next year, as part of its efforts to evade punishing tariffs on China. (Financial Times)
Talking point: Apple, which assembles most of its iPhones in China through third-party companies such as Foxconn, lost about US$700 billion in market value after U.S. President Donald Trump announced steep universal tariffs on Chinese goods. Trump granted smartphones a reprieve from the 125 per cent “reciprocal” tariffs, but kept the 20 per cent duties on China linked to concerns about fentanyl. India faces a lower 26 per cent tariff and is starting to negotiate a trade deal with the U.S. Apple has been growing its capacity in India in recent years, but shifting the entirety of its U.S.-bound iPhone assembly would mean doubling its output from that country.
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