CNBC’S Steve Kovach joins 'Money Movers' to discuss India iPhone exports soaring on amid tariff pressure.

New Delhi

Apple has significantly increased its iPhone exports from India to the United States, with shipments up 76% year-over-year in April, reaching 3 million units. This move is part of Apple's broader strategy to adjust its supply chain in response to ongoing tariff pressures and potential new tariffs threatened by the U.S. administration.

While exports from India have grown, shipments from China to the U.S. have dropped by 76%, falling below one million units. Apple still faces challenges in meeting total U.S. demand from India alone, as it would need to average 5 million units per month. Discussions between Apple CEO Tim Cook and U.S. officials continue, with the company also considering how increased costs from tariffs might be absorbed or passed on to consumers.

Apple's iPhone exports soar in India amid tariffs

Let's turn to Apple this morning. Some new data showing a surge in iPhone exports from India as the company looks to remake its supply chain. Our Steve Kovacs on that story today. Hey, Steve. Hey there, Carl. Yeah, we're going to be hearing a lot about this. And this data comes from Catalyst, the research firm, showing India iPhone shipments to the U.S. up 76% year-over-year in April. That's to 3 million units. This is actually lower than the first three months of the year. They were shipping as much as 4 million a month from India to the U.S. That was, of course, getting ahead of the tariffs. We heard all those stories about cargo planes full of iPhones. Well, that's what you were saying there. But still, a very long way to go for Apple to get all of its U.S. production in India. Need to average at least 5 million a month or so to meet all that U.S. demand between 60 and 65 million units each year. And then China shipments going the other way, down 76% to fewer than a million. I don't have to tell you why that's going on, but this is not what President Trump wants to see. Of course, on Friday morning, we got that threat from the president of 25% iPhone tariffs at the end of June. So the thing investors need to think about while looking at this is this one of those taco trades again. That's Trump always chickens out, of course. We know we've been talking about all morning that Trump already backed off his EU tariff threat a little bit by a few weeks at least. And there's already some exceptions for Apple last month dodging those tariffs in China and India. But if not, if none of that happens, will Apple be able to eat the cost? Now, keep in mind how most people buy their smartphones, guys. They either do payment plans or trade-ins or some mixture of the both. It's likely those extra costs will just be baked into your wireless carrier bill. Now, we already know what the cost of tariffs are going to be for June in the June quarter, rather, for Apple. That's $900 million. They told investors that on earnings a few weeks ago. By the way, Wall Street Journal reported a few weeks ago as well, iPhone prices could go up in the fall, whether that's tariffs or they want to charge more for new technology. Either way, going to cost more in the fall. Meantime, Apple will continue to ramp up production in India. No indication so far that's going to happen in the U.S., but we have White House administration officials from Treasury Secretary Scott Besant to Kevin Hassett on our air this morning, really trying to play down these Trump's threats. Hassett was saying they don't want to punish Apple for what it's doing in India, guys. So, has there been any Tim Cook diplomacy? Do we know? All we know is he was in the Oval Office last week meeting with the president. The White House confirmed as much. Nothing from Apple's side of things, but we know where the president stands on this and we know where the other administration officials are. And the question is, it's kind of weird. Carl, I think I saw you posting about this today. It's interesting. The question is now, what can Tim Cook offer to the president in order to mitigate, you know, this tension that's going on between them? But you do have the president here kind of dictating how Apple does business. There's got to be some way to make some part or something assembled in the U.S. I mean, Steve, I'm sure you read the Emilius note today. Yeah. Maybe you commit to some additional Mac production, right? We've had people on here suggesting the final nail in even packaging in the U.S. might give you a symbolic move in the president's direction. Yeah. Or put up a fake factory and start, you know, say, hey, look, these iPhones all of a sudden came from the United States. I don't know. But there are plenty to your point, sir. There are plenty of suppliers. Corning is a really big one. The glass on your phone is made by Corning, which is in upstate New York. So, I mean, there are plenty of U.S. suppliers in here. It's just all assembled over in China. We've talked so many times over the last few months during this conversation just how hard it is to move all those raw materials and so forth. The supply chain is set up so nicely to get those phones out there efficiently, moving it over. Not only is it going to be enormously expensive, it's going to take time just to start that, guys. Right. I don't know if they can make the Cybertruck in the U.S. Can't they make something? You're really into making cars and making phones. Totally different processes. And by the way, no robot is making those. Steve, thanks. Steve Kovach.

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