California AG Rob Bonta warns he may sue over Trump's 25% tariff threats on Made-in-India iPhones. Trump urged Apple to manufacture in the US, leading to tensions as Apple planned US sales of India-made phones.

Donald Trump warned Apple that if it builds factories in India, the company will face tariffs when selling its products in the United States. Trump threatened a 25 per cent tariff on smartphones made outside the US,

President Donald Trump has been increasing direct attacks against U.S. companies whose policies he views as opposing his tariff plans.

President Donald Trump said on Thursday that India has offered to eliminate tariffs on the United States as part of a potential trade deal. If that comes to pass, it could represent a significant breakthrough with an increasingly important US trading partner.

President Trump has postponed the imposition of a 50% tariff on European Union goods until July 9, 2025, following a discussion with European Commission President Ursula von der Leyen, who pledged to engage in serious negotiations.

Despite potential tariffs, Apple is increasing its iPhone production in India due to significantly lower labor costs compared to the U.S. Even with a 25% import duty, Indian assembly remains far more economical.

The Trump trade war was de-escalating until Friday's Apple and EU tariff threats, but Trump has delayed the EU duties. The stock market faces other risks too.