Overview

• President Trump’s 25% tariff on Indian goods took effect Friday, although smartphones remain exempt until the conclusion of Section 232 investigations.
• Apple CEO Tim Cook told investors the company expects a $1.1 billion hit from tariffs in its September quarter.
• Foxconn exported nearly $3.2 billion of India-made iPhones to the US between March and May, aligning production almost exclusively with American demand.
• Counterpoint Research data shows India supplied 71% of iPhones sold in the US from April to June, up from 31% a year earlier.
• Industry analysts highlight that government incentives, local component access and labor costs about half of China’s keep India cost-competitive for Apple production.