A series of shifting and often contradictory tariff policies have left a mess in their wake. Will Trump actually stick to this threat?

"If that is not the case, a tariff of at least 25% must be paid by Apple to the US."Adding uncertainty to his ultimatum, Trump later said the tariff wouldn't apply to just the iPhone but also to any smartphone made outside the US.

CEO Tim Cook has spent years trying to shield the tech giant from tariffs by reducing its reliance on China, shifting production to countries like India and Vietnam in a strategy that dates back to Trump’s first-term tariffs on Beijing.