China-listed shares of Apple suppliers declined on Monday following renewed tariff threats by former U.S. President Donald Trump. Luxshare, which assembles iPhones and manufactures AirPods, dropped by 2.2%, while mobile screen producer Lens Technology lost 1.8%. Another AirPods supplier, Goertek, also saw its stock fall by 1.1%, as investors reacted to Trump’s comments targeting Apple’s overseas manufacturing.
Trump had warned on Friday of a potential 25% tariff on iPhones that are imported into the U.S. but made outside the country. He also floated the idea of raising the levy to 50% by June 1. These threats have sparked concerns that the previously easing U.S.-China trade tensions could intensify again, disrupting global supply chains and affecting major tech firms.
Earlier in April, the White House paused most tariffs imposed against various countries, following a sharp market sell-off in U.S. assets including government bonds and the dollar. However, a 10% base tariff on most imports remained, and the administration’s earlier 145% tariff on Chinese goods was reduced to 30%. Apple has since accelerated efforts to shift production of iPhones for the U.S. market to its factories in India by the end of 2026.
Commerce Secretary Howard Lutnick indicated in an interview that iPhone production could eventually move to the U.S., with jobs created through automation in skilled trades. However, he later clarified that Apple CEO Tim Cook had noted such a move would require technologies that are currently not available.