President Donald Trump is asking Apple (AAPL) CEO Tim Cook to stop building plants in India to make devices for the U.S., and is pushing for the iPhone maker to add domestic production, Bloomberg’s Jordan Fabian and Sankalp Phartiyal report. Apple plans to import most of the iPhones it sells in the U.S. from India by the end of next year, as Apple currently makes most of its iPhones in China. “I had a little problem with Tim Cook yesterday,” Trump said of his conversation with the Apple CEO in Qatar, where he’s on a state visit. “He is building all over India. I don’t want you building in India.” As a result of their discussion, Trump said Apple will be “upping their production in the United States.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AAPL:
- Block’s (XYZ) Square Resilence Shines Through Cash App Headwinds
- Gladstone Capital Management Reduces Stake in Apple Inc
- Progressive Investment Management Corp Reduces Apple Holdings
- Bowie Capital Management Reduces Stake in Apple Inc
- Smartphone Shipments Surged in March as Apple (AAPL) and Others Avoided Tariffs