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Trump threatens to hit Apple with a 25% tariff on iPhone sales

Trump threatens to hit Apple with a 25% tariff on iPhone sales
China eyes global help to end U.S. trade war
China eyes international help to resolve U.S. trade war 05:44

President Trump is threatening to impose a 25% tariff on Apple if they do not shift some of their iPhone production to the U.S.

"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," he posted Friday on his Truth Social social media platform."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!"

—This is a developing story and will be updated.

Mary Cunningham

Mary Cunningham is a reporter for CBS MoneyWatch. Before joining the business and finance vertical, she worked at "60 Minutes," CBSNews.com and CBS News 24/7 as part of the CBS News Associate Program.

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