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In a move to beat the heat of rising tariffs, Apple is shifting a portion of its iPhone production to India, looking to sidestep the blistering costs on Chinese imports, according to a Wall Street Journal report citing sources.
The $2.3-trillion tech giant may look to reduce the impact of hefty 54% tariff slapped on imports from China by the US President Trump. The company’s shares are down nearly 26% this year so far as investors nervously watch the tariff war between the US and China unravel.
Tech Insights estimates that the 54% tariff could add…
