Aim at Apple on Foreign Production
Apple shares dropped 3% on Friday after Trump reiterated in a public talk that he had long expected iPhones sold in the United States to be made in America. He said he had previously communicated these expectations to Apple CEO Tim Cook.

"If that is not to be the case, the U.

S. will decide how much of a 25% tariff China pays us for the privilege of doing business with the U.S.

,"Trump wrote.

Apple has not commented publicly in response to the warning so far, it coincides with reports that Apple is close to completing a $1.5 billion plant in India that will make components for the iPhone.

More than 50% of iPhones are currently made in China and the work is expected to move completely to India by 2026.

This potential tax would also affect Samsung and other companies that import such products, Trump said, explaining it was needed for fairness. If manufacturing does not move to the U.

S., he said, tariffs could be imposed as soon as late June.

Wider Business Tensions and Market Impact
The tariff threat is only the latest in a string of battles between Trump and big U.

S. businesses:

Walmart was earlier slammed by Trump for predicting higher prices, with the former president demanding the company "EAT THE TARIFFS."

Mattel, creator of Barbie, was warned of a 100 percent tariff if the company didn't relo.