India, Tim Cook and Donald Trump
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The iPhone maker is diversifying production to India amid tensions between the U.S. and China — but the U.S. president wants it to move stateside.
Trump’s remarks come as Apple continues to ramp up its iPhone production in India. The tech giant has established multiple assembly plants in the country through partnerships with contract manufacturers including Foxconn and Tata Group. Two of these plants are located in Tamil Nadu, while another operates in Karnataka.
Apple’s stock jumped 6% on Monday, adding roughly $180 billion to its market cap after the U.S. and China agreed to cut reciprocal tariffs from 125% to 10% for 90 days. President Trump said he spoke with CEO Tim Cook about boosting Apple’s U.