FT News Briefing
US tariffs bite Chinese industry
Apr 25, 2025
Apple is shifting its iPhone assembly to India, responding to U.S. tariffs that are crippling Chinese factories. Manufacturing slowdowns in China are leading to worker furloughs and order cancellations. Meanwhile, Alphabet's profits soar by 46%, showing resilience amid economic challenges. The Trump administration's push to eliminate paper cheques raises questions about payment methods in the U.S., balancing the convenience of digital payments with traditional practices.
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Quick takeaways
- Apple is shifting iPhone assembly to India due to US tariffs significantly impacting production in Chinese factories.
- The Trump administration's efforts to reduce paper cheque usage reveal the complexities of transitioning to electronic payments in America.
Deep dives
Apple's Shift to India Amid Tariffs
Apple plans to move the assembly of all iPhones sold in the U.S. to India by the end of next year due to the significant tariffs imposed on China by the Trump administration. Currently, most iPhones are manufactured in China, which is facing declining production and worker furloughs as U.S. companies cancel orders amid the ongoing trade war. Despite Apple diversifying its production to India, the company still relies heavily on Chinese suppliers for components, making this transition challenging. The situation highlights broader struggles within the Chinese manufacturing sector, as numerous factories confront operational difficulties resulting from the trade conflict.
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