This week President Donald Trump made good on his word to roll out sweeping tariffs on imports from China and elsewhere in the world. As a result of these tariffs, which impact every country in the Apple supply chain, the best iPhones could soon cost double what they do now, with analysts predicting prices ballooning by 43% or more.
Like many consumer goods, most of the 200 million iPhones Apple produces each year are still made in China, which was hit with a 54% tariff − the highest U.S. tariff on any country. It's part of a larger rollout of "reciprocal tariffs" that went into effect on April 2, or "Liberation Day" as President Trump is calling it.
