In context: President Trump's 104% tariff on goods imported from China is now in effect. It will have an enormous impact on many US firms, especially Apple, which relies heavily on China to manufacture its iPhones. Trump believes the solution is to start making the handsets in the US, but that would be nearly impossible, especially in the short term. And even if it were, iPhones would likely become much more expensive.
The US government doesn't feel the same love for China
What just happened? Between chip-related export controls and tensions over Taiwan, relations between the US and China are at a nadir, but that hasn't stopped many top tech executives, including Apple CEO Tim Cook, from singing the country's praises at the 2023 China Development Forum.