In a surprising move, President Trump has reignited trade tensions by threatening a 25% tariff on Apple products unless they are manufactured in the U.S. This could significantly impact iPhone prices and alter the tech landscape.

Apple shares fell 3% Friday after President Donald Trump threatened the tech giant with a 25% tariff if it does not start producing iPhones in the U.S. — his latest salvo directly targeting a U.S. company over how it conducts its business.

Trump's proposed 25% tariffs on Apple products made outside the US could erode gross margins by up to 490bps, invalidating my earlier margin expansion thesis. iPhone 16 Plus adoption rates are underperforming vs prior series,

President Donald Trump took aim at Apple recently, threatening it with a 25% tariff on all iPhones made outside the US, which just added more fuel to fire over potential price hikes for the rumored iPhone 17.

The latest estimates from Yale's Budget Lab reveal that U.S. tariffs will significantly impact consumer wallets, leading to a $3,600 loss in purchasing power per household in 2024 dollars.