National Economic Council Director Kevin Hassett stated on Tuesday that the Trump administration has no intention of “harming Apple” with tariffs on products like iPhones. During an appearance on CNBC’s “Squawk Box,” Hassett addressed concerns regarding proposed tariffs, which some critics described as catastrophic. He mentioned that the administration aims to negotiate a fair resolution while protecting major companies.
Hassett’s remarks come on the heels of President Trump’s strong stance on the issue. Trump previously indicated through social media that Apple would face tariffs of 25% or more if the company continues to produce iPhones outside of the U.S., primarily in countries like China, India, and Vietnam. In his message, Trump explicitly informed Apple CEO Tim Cook that he expects iPhones sold in the U.S. to be manufactured domestically.
The implications of such tariffs are significant, as estimates suggest that an iPhone produced in the U.S. could skyrocket to a price of around $3,500. This potential increase raises concerns not only for Apple but also for consumers who rely on these products.
Overall, the administration’s approach appears to aim for a balance between national manufacturing interests and the economic realities faced by major tech companies like Apple. By continuing open dialogue, there is hope for an outcome that satisfies both sides.