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FMCG firms cut senior roles by 32%; Total headcount shrinks 9.26% in FY25
Apple's India-made iPhones get reprieve amidst new Trump tariffs
Despite new 25% tariffs on India, Apple's expanding iPhone production for the US market currently enjoys a crucial exemption.
With Apple's formal response now on record, the case moves into the discovery phase. The outcome could significantly impact not only the future of the iPhone's operation but also the broader question of how much control any tech company can exert over its own platform.
Apple Inc.'s burgeoning iPhone exports from India to the United States appear to be shielded, for now, from the latest 25% tariffs announced by President Donald Trump on South Asian imports. This comes as a significant relief for Apple, which has rapidly escalated its manufacturing presence in India as part of a strategic shift away from China.
The Trump administration had previously, in April, granted an exemption for smartphones, computers, and other electronic devices from reciprocal tariffs. This carve-out provided a crucial lifeline to tech giants like Apple and Nvidia Corp., given that most of these electronic devices are not domestically manufactured in the US.
India has emerged as a powerhouse in global iPhone production, now accounting for over a fifth of the worldwide output. Notably, it has even surpassed China to become the leading supplier of iPhones to the American market, a testament to Prime Minister Modi's "Make in India" initiative, which has actively courted global investors.
However, the future remains uncertain. A potential removal of these exemptions could significantly inflate the price of Indian-assembled iPhones globally, making them less competitive compared to those manufactured in Vietnam or China. The US Commerce Department is currently conducting investigations under Section 232 of the Trade Expansion Act, probing sectors deemed vital to national security, including semiconductors. Until these probes conclude, smartphone exports from India, including iPhones, will remain tariff-free.
Experts widely anticipate that these Section 232 investigations could pave the way for new levies on a range of foreign-made products. President Trump has already utilized this authority to impose tariffs on steel and aluminum imports, affecting even common household items. Should Trump decide to invoke these powers to tariff iPhone imports into the US, Apple could face immense pressure to squeeze its suppliers in India or be compelled to raise prices for American consumers.
Adding to the volatility, President Trump's stance on trade issues is known for its frequent shifts. Following the initial announcement of the 25% tariff, he later indicated that discussions between the US and India were ongoing, leaving the long-term trade landscape in flux.
SC issues notices to states in gaming ban plea, next hearing on August 18
The petition, filed by evangelist and politician Dr. K.A. Paul, alleges that betting apps are trapping millions of Indians, especially youth, in an illegal and addictive system that violates their right to life under Article 21 of the Constitution.