Trump’s tariff threat to Apple is about bringing back ‘precision manufacturing’: Bessent
In a recent statement on Fox News, Treasury Secretary Scott Bessent discussed President TrumpS 25% tariff threat against Apple, which would take effect if the company does not relocate its iPhone manufacturing back to the United states.Bessent emphasized that this move aims to restore “precision manufacturing” in the U.S., particularly highlighting vulnerabilities in the semiconductor supply chain, which is crucial for many of Apple’s components.Trump communicated his expectations directly to Apple CEO Tim Cook, expressing dissatisfaction with production in countries like India. Bessent acknowledged the complexities involved in shifting high-tech manufacturing but noted that Apple has already begun diversifying its supply chain away from China.
Trump’s tariff threat to Apple is about bringing back ‘precision manufacturing’: Bessent
Treasury Secretary Scott Bessent said Friday that President Donald Trump‘s threat of a 25% tariff against Apple if it doesn’t move iPhone production to the United States is about bringing back “precision manufacturing.”
“The president is trying to bring back precision manufacturing to the U.S.,” Bessent said during an appearance on Fox News’s America’s Newsroom. “I think that one of our greatest vulnerabilities is this external production, especially in semiconductors, and a large part of Apple’s components are in semiconductors.”
“So, we would like to have Apple help us make the semiconductor supply chain more secure,” he added.
Trump announced the tariff threat in a post to Truth Social.
“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,” he said. “If that is not the case, a Tariff of at least 25% must be paid by Apple to the U.S. Thank [you] for your attention to this matter!”
The move came after Trump and Bessent met with Apple CEO Tim Cook this week.
TRUMP TO TARIFF APPLE 25% DIRECTLY IF PHONES ARE BUILT IN INDIA
It takes time to move the production facilities of high-tech companies, according to Bessent, and the U.S. will have to assess what is realistic for Apple.
“I don’t know from company to company,” he said. “I do think that Apple started moving a big portion of their supply chain out of China during COVID when China proved to be an unreliable partner.”
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