Donald Trump threatened Apple with a 25% tariff on iPhones sold in the U.S. unless they are manufactured domestically, not in India or elsewhere. This followed reports of Apple planning a $1.5 billion iPhone component production center in India. Apple's stock dropped 3%, representing a $100 billion loss. Trump's actions are consistent with his pattern of directly targeting U.S. companies over their production practices, previously including Amazon, Mattel, and Walmart. Analysts suggest a US-made iPhone could cost $1,500-$3,500, calling the idea a "fairy tale". Trump's actions caused broader market declines.

Prepared by Christopher Adams and reviewed by editorial team.