Peter Navarro, a trade adviser to President Trump, has publicly criticized Apple for its continued reliance on overseas, especially Chinese manufacturing, despite years of pressure from the U.S. government to relocate production to the United States. Navarro claims that Apple believes it is "too big to tariff", implying the company expects to be exempt from punitive trade measures because of its size, influence, and importance to the U.S. economy.
The Trump administration has threatened a 25% tariff on iPhones not made in the U.S., but Apple has so far only partially diversified production to countries like India and Vietnam, rather than fully reshoring to America.
The politician's statement underscores the belief that the administration will raise tariffs if Apple does not comply with demands to increase domestic production.
Comparison of Apple's results from today's session and over a longer period with other MAG7 companies. Source: Barchart
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