President Donald Trump told reporters that he talked to Apple CEO Tim Cook after the US-China trade agreement at Geneva. US and China have agreed to suspend most tariffs for 90 days. “I spoke to Tim Cook this morning, and he’s going to, I think, even up his numbers,” Trump said in the Oval Office of Whote House. "$500 billion, he’s going to be building a lot of plants in the United States for Apple. And we look forward to that." Incidentally, Apple CEO Cook had successfully lobbied Trump during his first administration to exempt some of the company’s products from tariffs.
Wall Street and Apple investors cheered the pause on Chinese tariffs. Apple stock was up 6% in trading on Monday, versus 3% for the Nasdaq. The dramatic coolinUS and China, spurred a broader rally across US markets.
Apple may increase iPhone prices, claims report
Earlier in the day a Wall Street Journal report claimed that Apple is considering to raise prices for its iPhone lineup likely to launch in September. The USJ report cited people familiar with the matter whom it didn’t identify. The company is exploring whether to “couple” price increases with new features and designs, while trying to avoid the perception that any hikes are tied to US tariffs, the Journal reported.
A few hours after the Journal report, Trump said that he had spoken to Cook. He, however, didn’t address the potential price increases. Trump just focused on how he thinks the company will end up raising its US spending plan beyond the $500 billion that it had pledged in February. “He’s going to be building a lot of plants in the US for Apple,” Trump said.
Apple hasn’t changed the starting price of its flagship iPhone model since it launched its tenth-anniversary iPhone -- iPhone X in 2017 — keeping it at $999. However, there have been wide speculations that the company may increase prices after Trump announced sweeping tariffs against several nations that Apple relies on for manufacturing. Earlier this year, Apple went with a higher price for the iPhone 16e, which replaced the budget iPhone SE in its lineup, signaling what analysts says its willingness to raise costs when needed.
$900 million: Tariff cost for Apple in first three months of 2025
Cook said during a recent earnings call that it could incur costs of about $900 million this quarter due to tariffs. He was asked about potential price increases during the same call but promptly shut down the question, saying: “We have nothing to announce today.”
The WSJ report added that high-end iPhones, including the Pro and Pro Max models, will be produced in China, even as Apple builds up capacity in Indian factories. According to Bloomberg report, Apple is seeking to import most of the iPhones it sells in the US from India by the end of next year, accelerating a shift beyond China to mitigate risks related to tariffs and geopolitical tensions.
Wall Street and Apple investors cheered the pause on Chinese tariffs. Apple stock was up 6% in trading on Monday, versus 3% for the Nasdaq. The dramatic coolinUS and China, spurred a broader rally across US markets.
Apple may increase iPhone prices, claims report
Earlier in the day a Wall Street Journal report claimed that Apple is considering to raise prices for its iPhone lineup likely to launch in September. The USJ report cited people familiar with the matter whom it didn’t identify. The company is exploring whether to “couple” price increases with new features and designs, while trying to avoid the perception that any hikes are tied to US tariffs, the Journal reported.
A few hours after the Journal report, Trump said that he had spoken to Cook. He, however, didn’t address the potential price increases. Trump just focused on how he thinks the company will end up raising its US spending plan beyond the $500 billion that it had pledged in February. “He’s going to be building a lot of plants in the US for Apple,” Trump said.
Apple hasn’t changed the starting price of its flagship iPhone model since it launched its tenth-anniversary iPhone -- iPhone X in 2017 — keeping it at $999. However, there have been wide speculations that the company may increase prices after Trump announced sweeping tariffs against several nations that Apple relies on for manufacturing. Earlier this year, Apple went with a higher price for the iPhone 16e, which replaced the budget iPhone SE in its lineup, signaling what analysts says its willingness to raise costs when needed.
$900 million: Tariff cost for Apple in first three months of 2025
Cook said during a recent earnings call that it could incur costs of about $900 million this quarter due to tariffs. He was asked about potential price increases during the same call but promptly shut down the question, saying: “We have nothing to announce today.”
The WSJ report added that high-end iPhones, including the Pro and Pro Max models, will be produced in China, even as Apple builds up capacity in Indian factories. According to Bloomberg report, Apple is seeking to import most of the iPhones it sells in the US from India by the end of next year, accelerating a shift beyond China to mitigate risks related to tariffs and geopolitical tensions.
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