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President Trump threatened Apple and other smartphone manufacturers with at least a 25% tariff on iPhones and similar devices sold in the US unless production shifts to the US. This follows reports of Apple's plans to increase iPhone production in India. Trump stated the tariff, effective late June, would also apply to Samsung and other manufacturers. The threat comes after Trump expressed displeasure with Apple CEO Tim Cook regarding the company's shift of production to India. Currently, India has a 10% baseline tariff, while China's is higher, though subject to change.

Prepared by Christopher Adams and reviewed by editorial team.