Apple Inc. shares were trading at $209.77, down $0.24 or 0.11% from the previous close of $210.01 in the pre-market session on July 9, signaling a slight negative turn ahead of the trading. The dip comes amid Trump‘s trade adviser Peter Navarro slammed the company’s production in China.
Calling it “the longest-running soap opera in Silicon Valley,” Navarro slammed Apple CEO Tim Cook for failing to move factories out of China despite years of promises, especially during Trump’s first term. “My problem with Tim Cook is he never takes the steps to actually do that.” Navarro said in a CNBC interview, adding that with today’s AI-driven and advanced manufacturing tools, it’s “inconceivable” that Apple can’t make iPhones in the US.
The remarks come as Donald Trump intensifies pressure on Apple in his second term, warning that the company must shift iPhone production to the US or face tariffs of at least 25% on handsets assembled overseas. While Apple has begun moving some production to India to mitigate tariff risks, Trump has made it clear that manufacturing in India is not good enough. Reports suggest Apple aims to move all US-bound iPhone assembly to India by the end of 2026, but that still falls short of Trump’s demand for domestic production.
Apple has pledged a $500 billion investment in US manufacturing, including a new advanced facility in Houston. However, building an iPhone entirely in the US is a massive challenge. The latest iPhones contain around 2,700 parts from 187 suppliers across 28 countries, most of which are based in China. Currently, 85% of iPhones are assembled by Foxconn in Chinese factories.
Commerce Secretary Howard Lutnick recently claimed that mass assembly jobs would return to the U.S., but critics question whether American workers would be willing to take on the monotonous and demanding tasks typically handled in Chinese factories. Estimates suggest a fully US-made iPhone could cost as much as $3,500, raising concerns about affordability. A possible compromise, limiting US production to final assembly, would still take years to implement and may not satisfy Trump’s hardline stance.