According to Mac Rumors, experts in the US Bank's analysis team, led by Mr. Wamsi Mohan, said that the cost of labor in the US alone, which is higher than some countries, could also increase iPhone prices by about 25%.
In addition, even if Apple finds a domestic workforce to complete the final assembly, a large part of the iPhone components still have to be manufactured in other countries and imported into the US. If these components are subject to countervailing tax, the overall production cost can increase by 90% or more.
White House press secretary Karoline Leavitt said Trump "perfectly believe that Apple can make iPhones in the US", and said that "we have workers, a workforce, and resources to do that".
However, Trump's tough trade policies have complicated the situation. Trade tensions make the market unpredictable and negatively impact Apple's stock, which has fallen 14% since the tariff announcement, losing about $479 billion in market capitalization. Although the stock has recovered 10%, Apple has still decreased 23% since the beginning of the year.
Mr. Mohan said that in order for Apple to be able to produce in the US economically, it needs to be exempted from tariffs on imported components and finished products.
However, that possibility is considered unlikely in the current context. Therefore, Apple is likely to continue to diversify its supply chain and increase iPhone production in other countries such as India.