US President Donald Trump has threatened to impose high taxes on US companies like Apple that manufactures their products outside of the US.
Trump said in a Fox Business Network interview that taxation was an “incentive” for companies to return manufacturing to the United States.
You know, if we wanted to put up our own border, like other countries do to us, Apple would build 100 percent of their product in the United States. That’s the way it would work,” Trump said.
This move is seen by many US officials as an attempt by President Trump to move productions away from China.
US companies have lost $46 billion, since Trump began imposing tarrifs on Chinese importation, according to Commerce Department.
If imposed there might likely be a hike in prices of iPhones that are manufactured currently by Foxconn in two major plants in China.