China still accounts for the majority of Apple iPhone production, but the tech giant has sought to ramp up manufacturing in places like India and Vietnam.

The new levies are likely to squeeze Apple's margins, given that it is unlikely to hike prices to offset the effects, analysts say Apple is finding itself squarely in the crosshairs of US President Donald Trump's new tariffs,

The Trump administration has regularly lied about who pays for tariffs, regularly claiming that the exporting nation foots the bill. That’s not how tariffs work, no matter how many times Trump claims otherwise.