Apple is contemplating importing extra iPhones from India to side-step the 54% further tariffs on items imported from China that U.S. President Donald Trump introduced final week, the Wall Street Journal reported, citing nameless sources.
The corporate sees this as a short-term measure whereas it seeks to barter with the Trump administration to get an exemption from the tariffs, because it doesn’t but wish to revamp its provide chain constructed round China, the report mentioned.
In comparison with the brand new 54% tariffs on Chinese language-made items, the U.S. has proposed a 26% tariffs on items imported from India. If the tariffs aren’t introduced down and Apple continues to import iPhones from China, an iPhone 16 Professional that value $550 to import before tariffs, could cost an additional $300 now.
Apple was on monitor to make 25 million iPhones in India this yr, with 10 million items for the native market, the Wall Road Journal cited Financial institution of America analyst Wamsi Mohan as saying. He mentioned that if Apple determined to import all 25 million iPhones to the U.S., it might fulfill about 50% of the demand within the U.S. market.