Bloomberg Tech Trump Wants iPhone Production Moved from India to the US, EToro CEO Discusses IPO
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May 15, 2025 President Trump urges Apple to shift iPhone production back to the U.S., sparking a debate on economic implications. eToro's CEO discusses his company's market debut and the challenges of navigating regulations. CoreWeave's partnership with OpenAI highlights the evolving demands in AI and tech markets. The potential of decentralized social networks is also explored, showcasing new platforms that empower user control against traditional giants like Facebook.
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Trump's Direct Call to Tim Cook
- President Trump called out Tim Cook directly, telling him he doesn't want Apple building iPhones in India.
- He urged Apple to produce more phones in the U.S. instead to support American manufacturing.
Apple's iPhone Production Shift to India
- Apple shifted about a third of its iPhone production to India mainly to avoid tariffs and geopolitical risks from China and the U.S. trade tensions.
- The majority of iPhones for the U.S. market are now planned to be produced in India by end of 2026, excluding advanced models which remain in China.
No iPhone Production Coming to U.S.
- Apple has no current plans to produce iPhones in the U.S. due to high costs, lack of manufacturing talent, and infrastructure challenges.
- Producing advanced iPhone models with new technology remains feasible only in China for now.