Apple reportedly ups iPhone production in India as country's Russia ties roil White House

In this articleAAPL your favorite stocksCREATE FREE ACCOUNTwatch now4:4504:45Treasury Secretary Bessent: India is fiteering from Russian oilSquawk BoxApple has reportedly boosted iPhone duction in India as the country faces pressure from the White House over its Russian oil purchases."We have planned to up the tariffs on India," Treasury Secretary Scott Bessent told CNBC's "Squawk Box" on Tuesday. "These are secondary tariffs for buying the sanctioned Russian oil."Bessent accused India of "fiteering" by purchasing cheap Russian oil and reselling it during the Ukraine war, "which is unacceptable."Earlier this month, President Donald Trump hiked tariffs on India to 50%

The president said in July that he would impose secondary tariffs "at 100%" on Russia's trading partners if a peace deal isn't reached with Ukraine by September.His s came as Bloomberg reported that nology giant Apple has upped duction at five of its factories in India as it readies for the launch of its new iPhone 17 models.Read more CNBC newsBill Gates meets Willy Wonka: How Epic's 82-year-old billionaire CEO built her software factorySamsung taking market from Apple in U.S. as foldable phones gain momentumOpenAI in talks to sell around $6 billion in stock at roughly $500 billion valuation IPOs are roaring after 'years of hibition' — it may be too goodThe expansion includes some new plants and factories belonging to the Tata Group and contract electronics manufacturer Foxconn nology, according to the report, citing people familiar with the matter

Apple is also looking to create a new iPhone 17e in India next year, according to the report.In recent years, Apple has shifted more duction to India as it looks to reduce its reliance on China, especially in the wake of recent trade tensions.Data from Canalys in May estimated that iPhone shipments from India to the U.S. grew 76% in May as trade restrictions loomed.At the same time, Apple has committed to more than $600 billion in the U.S. over the next four years to imve American manufacturing duction.That includes a $100 billion spending expansion this month, which has a $2.5 billion investment to expand iPhone glass maker Corning's duction.This commitment to building in the U.S. should put Apple in the on India-related tariffs.Don’t miss these insights from CNBC Forget Palantir