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Apple CEO Tim Cook announced during the company's Q2 2025 earnings call that tariffs are expected to add $900 million to Apple's costs in the third quarter, assuming that current U.S. trade policies remain in place.
"For the June quarter, we do expect the majority of the iPhones sold in the U.S. will have India as their country of origin," Cook told analysts, adding that China will remain the primary source of Apple product sales outside the U.S.
Apple shares fell 4 percent in extended trading after the company's China sales during the quarter declined from last year.