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Apple (NASDAQ:AAPL) supplier stocks in China fell on Monday after U.S. President Donald Trump threatened a new wave of tariffs targeting imported iPhones. Shares of Luxshare, a key iPhone assembler and AirPods maker, dropped 2.2%, while mobile screen supplier Lens Technology slid 1.8%. Goertek, another AirPods producer, declined 1.1%.
Trump warned Friday that he may impose a 25% tariff on iPhones sold in the U.S. but manufactured overseas, as part of his administration’s push to bring jobs back to America. The comment sparked fears of a renewed escalation in U.S.-China trade tensions, just as markets had begun to stabilize following earlier tariff pauses.
In April, the White House had eased its sweeping tariff measures after a sharp sell-off in U.S. assets, including government bonds and the dollar. Although the administration scaled back its aggressive 145% tariff on Chinese goods to 30%, a baseline 10% tax remains in place on most imports.
To counter future tariff risks, Apple is accelerating its shift in production away from China. The company plans to manufacture the majority of iPhones sold in the U.S. in India by the end of 2026. However, relocating production to the U.S. appears unlikely in the short term due to current technological constraints.
Commerce Secretary Howard Lutnick previously suggested iPhone manufacturing could be reshored and automated to create jobs for U.S. skilled workers. Yet he later clarified that Apple CEO Tim Cook noted the required automation technology does not yet exist.
Apple’s global supply chain remains under pressure as geopolitical risks mount, with potential tariffs posing significant challenges to operations and supplier stock performance.
