Will Donald Trump's administration tell Apple to do the same as Walmart: Eat the ...
National Economic Council Director
Kevin Hassett
said last month that the Trump administration does not intend to 'harm Apple' with tariffs. Hassett's remarks came in response to escalating concerns from the tech industry following a social media post by Trump that reiterated his demand for Apple to manufacture iPhones in the U.S. rather than abroad. Trump said that while Apple can build factories outside the US (in India particularly), but will have to face
25% tariffs
on iPhones produced outside the country.
Hassett's comments echoed President Trump's earlier message to Walmart. In a post on Truth Social, Trump told the retail giant to 'EAT THE TARIFFS' after it warned that rising import costs would force it to increase prices.
Here's what Trump advisor Kevin Hassett said
Speaking on CNBC's Squawk Box recently, Hassett said 'Everybody is trying to make it seem like it's a catastrophe if there's a tiny little tariff on them right now, to try to negotiate down the tariffs'. 'In the end, we'll see what happens, we'll see what the update is, but we don't want to harm Apple,' he added.
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Explaining further, Hassett told the publication: 'If you think that Apple has a factory some place that's got a set number of iPhones that it produces and it needs to sell them no matter what, then Apple will bear those tariffs, not consumers, because it's an elastic supply,' Hassett said.
Trump 'threatens' Apple with 25% tariffs
'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,' Trump posted online. 'If that is not the case, a Tariff of at least 25% must be paid by Apple to the U.S. Thank your for your attention to this matter!'
Apple currently assembles many of its products in countries such as China, India, and Vietnam. Industry analysts estimate that relocating production entirely to the U.S. could increase the price of an iPhone as high as $3,500.
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