Apple CEO Tim Cook says the recent price increases on the newest iPhones are not because of President Donald Trump’s tariff plans.
“There’s no tariff increase in these prices, to be totally clear,” Cook told CNBC’s Jim Cramer at Apple’s Fifth Avenue store in New York City as the latest iPhone launched worldwide.
This is one of the first times Cook has clearly spoken about tariffs and iPhone prices.
Earlier this month, Apple raised the price of its iPhone 17 Pro by $100 but kept the cost of its entry-level phones the same. The company also introduced a new Air model to replace the Plus version, but it comes at a higher price.
Many experts had expected Apple to raise prices anyway, even as Cook denied tariffs were the reason. To avoid extra costs, Apple has shifted parts of its supply chain to countries like India and Vietnam, which face lower tariffs. In the past, most Apple products were made in China.
Cook has also appeared publicly with Trump as Apple invests at least $600 billion in U.S. manufacturing and supplier support.
In the June quarter, Cook said Apple lost $800 million due to tariff-related costs.
At the same time, Apple is facing pressure over its slower rollout of artificial intelligence and increasing competition in markets like China.
“We have AI everywhere in the phone,” Cook told CNBC. “We just don’t call it that.”
