Trump threatened Apple with 25% tariffs unless the company starts making their iPhones in the United States. His threat came after Apple CEO Tim Cook said the company would continue manufacturing phones in India to avoid expensive prices for Americans.

"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.

Every iPhone buyer in the world may get hit with the side-effects of President Donald Trump's tariffs, as Apple may choose to hike prices everywhere to keep profit margins up.