Trump Advisor Peter Navarro Reportedly Accuses Apple CEO Of Delaying China Exit In “Silicon Valley Soap Opera”

Peter Navarro, the White House’s trade advisor, reportedly took aim at Apple Inc. (AAPL) and its CEO, Tim Cook, alleging the tech giant has been slow to shift its production operations out of China despite growing demands from the U.S. administration.

During an appearance on CNBC’s “Squawk On The Street,” Navarro criticized Tim Cook for continually postponing Apple’s manufacturing shift, calling the situation “the longest-running soap opera in Silicon Valley.” 

After the news, Apple’s stock traded 1.4% lower on Monday afternoon.

U.S. President Donald Trump has intensified calls for domestic production of iPhones and other electronics. Trump has floated the possibility of imposing tariffs of at least 25% on iPhones manufactured abroad and told Cook that he opposes production in India. 

Apple has only partially moved manufacturing to India, with the majority of iPhone output still based in China.

Despite Navarro’s contention that innovations in advanced technology and AI should make it feasible to diversify manufacturing locations globally, analysts argue that relocating the entire iPhone supply chain to the U.S. is practically impossible.

Some analysts estimate that a domestically assembled iPhone might cost as much as $3,500.

Apple currently carries out only a small share of its manufacturing within the U.S., with the Mac Pro assembled in Texas being a key example. Earlier in the year, the company pledged $500 billion toward domestic investments, including initiatives to build AI-related servers.

According to a Counterpoint Research report, overall iPhone shipments grew 15% year-on-year (YoY) during the first two months of the June quarter. iPhone’s global market share stood at 19% in the first quarter (Q1).

On Stocktwits, retail sentiment toward Apple remained in ‘extremely high’ territory with ‘high’ message volume levels.

Apple stock has lost over 15% year-to-date and over 7% in the last 12 months.

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