Valuetainment - May 28, 2025


＂$3,500 iPhones＂ - Trump SLAMS Tim Cook For Apple's Overseas Production In Tariff STAND OFF


Episode Stats

Length

13 minutes

Words per Minute

197.14618

Word Count

2,708

Sentence Count

276

Misogynist Sentences

2

Hate Speech Sentences

6


Summary

The Trump-Apple relationship devolves with threats. President Trump threatens a 25% tariff on Apple products if the company does not shift more manufacturing to the U.S., stating, I have long ago informed Tim Cook of Apple that I expect their iPhones that will be sold in the US will be manufacturing and built in the USA as well. And later told reporters, the iPhone, if they re going to sell it in America, I want it to be built in America. This marks a shift from the cordial relationship during Trump s first term when Apple secured a tariff exemption.


Transcript

00:00:00.000 The Trump-Apple relationship devolves with threats.
00:00:03.940 This is The Hill.
00:00:04.980 President Trump threatened a 25% tariff on Apple products
00:00:07.980 if the company does not shift more manufacturers to the U.S.,
00:00:11.340 stating, I have long ago informed Tim Cook of Apple
00:00:14.820 that I expect their iPhones that will be sold in the U.S.
00:00:18.860 will be manufacturing and built in the U.S. as well,
00:00:21.100 and later told reporters, the iPhone,
00:00:22.920 if they're going to sell it in America,
00:00:24.900 I want it to be built in the U.S.
00:00:26.800 This marks a shift from the cordial relationship during Trump's first term
00:00:31.280 when Apple secured tariffs exemption as Cook now faces,
00:00:34.840 pressured despite a $500 billion U.S. investment pledge,
00:00:38.100 including a new Texas factory.
00:00:40.380 The tariff threat, part of Trump's broader push to reshore manufacturing,
00:00:44.820 follows Apple supplier Foxconn, $1.5 billion investment in India,
00:00:48.940 prompting Trump to say, I said to him, Tim, you are my friend.
00:00:52.360 I don't want you to build in India.
00:00:53.760 Rob, is this the clip?
00:00:54.820 Yes.
00:00:55.180 Go for it, Rob.
00:00:56.800 Mr. President, on Apple, you said this morning
00:01:00.200 that if they don't make their iPhones in the U.S.,
00:01:02.920 you're going to hit them with a 25% tariff.
00:01:05.360 Right.
00:01:05.700 Do you have the power to tariff one single company,
00:01:08.540 and why would you want to hurt an American company in that way?
00:01:11.140 It would be more.
00:01:11.980 It would be also Samsung and anybody that makes that product.
00:01:15.160 Otherwise, it wouldn't be fair.
00:01:16.780 So anybody that makes that product, and that'll start on,
00:01:19.940 I guess, the end of June.
00:01:21.580 It'll come out.
00:01:22.540 I think we have that appropriately done by the end of June.
00:01:25.840 And so if they make that product.
00:01:28.300 Now, again, when they build their plant here, there's no tariff.
00:01:33.020 So they're going to be building plants here.
00:01:35.080 But I had an understanding with him that he wouldn't be doing this.
00:01:38.080 He said he's going to India to build plants.
00:01:40.040 I said, that's okay to go to India, but you're not going to sell into here without tariffs.
00:01:43.540 And that's the way it is.
00:01:46.420 Yeah.
00:01:47.760 Tom, your thoughts.
00:01:49.320 So basically, it goes back to the – this is the China chess game.
00:01:54.880 Number one, he loves the fact that India is flanking China with trade deals.
00:02:03.960 He loves that.
00:02:04.560 And he loves it that Tim Cook and Apple have been moving for several years in this direction.
00:02:10.300 That's a good thing.
00:02:11.300 The thing that President Trump is also pointing out is like, look, I want you to onshore or nearshore your manufacturing.
00:02:19.920 And even if you have automated manufacturing and there's a few people that work there, those are jobs working there.
00:02:27.600 And it's also a whole bunch of jobs to build those buildings and those factories.
00:02:31.680 And that's what Trump wants.
00:02:34.500 Trump wants jobs in the U.S.
00:02:37.040 He wants U.S. economy to get the benefit first.
00:02:39.740 So he doesn't mind the flanking, but he doesn't want Apple to stop there.
00:02:45.340 There's your headline.
00:02:46.760 I want you to move out of China.
00:02:49.020 I just don't want you to merely go next door to India and not bring any benefits to American shore.
00:02:54.900 That's what the discussion is about.
00:02:56.660 And I support the president.
00:02:57.760 I think he's absolutely right.
00:02:59.320 What percentage does he have to move to the States for him to be happy with it?
00:03:02.480 Because he didn't say 100%, right?
00:03:04.360 He says a portion.
00:03:05.540 What is a portion?
00:03:06.280 Do you think they've had that specific conversation to say, I need 20% to be made here?
00:03:10.880 Yeah.
00:03:11.100 Well, I don't know if it's a percent or it's like, look, take me through your products that,
00:03:15.620 you know, that you could make here without crushing the cost for the consumer.
00:03:20.520 What could you do?
00:03:21.440 Could you do ear pods here?
00:03:22.820 What could you be making here on shore so that there'd be a benefit to the American consumer
00:03:29.080 in terms of jobs, benefit to the American economy, and you're not going to crush the price?
00:03:33.520 I think that's the conversation.
00:03:34.660 Trump does deals.
00:03:36.420 So I think that's the discussion with Tim.
00:03:38.260 Tim, come on.
00:03:39.340 You know, what can you put on shore?
00:03:41.860 What can you do that won't crush your economics and also make it hard for the consumer?
00:03:47.120 Because he even said when the reporter followed up, well, what about Samsung?
00:03:51.040 No, no, no.
00:03:51.400 It'll apply to all of them.
00:03:52.420 Otherwise, that wouldn't be fair.
00:03:53.520 You heard him say that?
00:03:54.740 So he's saying openly there, hey, Tim, I'm not going to disadvantage you.
00:03:59.500 I'm going to press the button for everybody.
00:04:01.060 I think it's a discussion of what can be brought on.
00:04:04.440 But if I had to throw a dart at the wall, you know, I think he's going to look at it
00:04:08.780 and say, OK, what percent of what percent of your devices are sold to Americans?
00:04:14.000 And I think he's going to want to put them on a path toward that number.
00:04:17.520 Adam, your thoughts.
00:04:18.120 So get ready for your iPhone to cost more money, my American friends.
00:04:24.620 You ever go to the mall?
00:04:25.800 You ever seen at the Apple store just people lining up for hours, if not days, for the
00:04:33.200 latest iPhone product?
00:04:34.940 Have you seen this ever?
00:04:36.800 Of course.
00:04:37.300 So I see it all the time.
00:04:38.600 I'm like, I'm still, I think, operating on an iPhone 14.
00:04:41.980 I don't even know what version we're on these days.
00:04:45.580 But two things are going to happen.
00:04:48.840 First, let's let's get this out of China into India.
00:04:51.960 I totally understand why Trump wants it made in the USA.
00:04:54.780 But understand that as an American, when you see made in the USA, you know what's going
00:04:59.860 to happen next?
00:05:01.320 Get ready to pay a premium, because if iPhones cost a thousand bucks and you're talking 25%
00:05:07.660 tariffs, your iPhone is now going to cost twelve hundred and fifty bucks and the American
00:05:12.500 consumer is going to pay the price for being made in America.
00:05:16.160 Now, if you love America, get ready to pay a little bit more.
00:05:20.000 And that's fine.
00:05:21.060 But most Americans are paycheck to paycheck.
00:05:23.560 Most Americans feel they deserve the latest, the greatest, the best.
00:05:27.760 But you're going to have to pay a little bit more for that.
00:05:29.740 Well, guess what, Adam?
00:05:31.040 And I'm happy that you have the 14 because guess what?
00:05:33.220 If we want to make America great again and we do want to bring jobs back here, Tommy,
00:05:37.460 guess what?
00:05:38.740 If you have the 14, you don't need the 17 or the 18.
00:05:42.100 This is a freaking batting down the hatches type of moment.
00:05:44.860 And I get and I love that attitude.
00:05:45.980 I'm saying I love that point of view.
00:05:47.200 It's like we want the next like I hate this phone now.
00:05:49.980 And it's almost as if remember when Apple got in trouble, Pat, they were sending that
00:05:53.760 that thing that made the phone and the battery die quicker.
00:05:56.700 They got in trouble for that shit because they want you to buy the new phone.
00:05:59.620 You know what I mean?
00:05:59.920 You don't need the brand new phone every single year.
00:06:02.080 Who the hell do you think you are?
00:06:03.100 If you can't afford it, calm your ass down.
00:06:05.820 Let America adjust.
00:06:06.900 And then we move on from there.
00:06:07.960 That's my attitude.
00:06:08.940 They're talking about 60 million new phones.
00:06:11.140 If they bring and build a fully manufactured phone in America, it's roughly $3,500.
00:06:17.800 It's $3,500.
00:06:19.420 If you want to buy the brand new one.
00:06:20.600 Fully manufactured iPhone built in America, it's $3,500.
00:06:24.500 So to me, if that comes here, companies are making more profits.
00:06:30.960 You're creating more jobs.
00:06:32.920 Salaries are going up.
00:06:34.120 No problem.
00:06:34.680 You can afford it.
00:06:35.340 But if it's not, it's a big price.
00:06:37.900 So what happens then?
00:06:38.640 Then Apple sits on a lot of phones that are not moving.
00:06:42.180 Apple knows if they go to India.
00:06:43.820 Then Apple's going to do whatever they can to get a new president to come in because a new president hopefully is going to be in a different way with phones being made.
00:06:51.260 Who knows what's going to happen?
00:06:52.480 So there is the pressures on free enterprise when you see things like this happen.
00:06:57.560 A story came out about the fact that shipping.
00:06:59.600 I don't know what page that shipping story is on, Rob, but there's a story about shipping.
00:07:04.380 That prices for shipping.
00:07:05.880 Say that again?
00:07:06.580 Page seven.
00:07:07.120 Page seven.
00:07:07.600 Yeah, there's a story about, and it has nothing to do with the phones.
00:07:10.240 I'll come back to it.
00:07:11.560 Shipping costs set to double as companies rush to import goods before China-U.S. trade ends.
00:07:16.640 So for me, I would love for those things to be built here, but you just have to know.
00:07:21.300 The prices are going to go up.
00:07:22.380 So major shipping carriers like Hapag Lloyd plan to raise their rates for a 40-foot container from China to the West Coast to $6,500, Benny, from $3,500.
00:07:33.940 These containers used to only cost you $3,500.
00:07:35.660 Now it's $6,500.
00:07:36.940 And East Coast ports to $7,500 instead of $4,500.
00:07:41.120 For West Coast, it's an 80%, 90% increase.
00:07:44.140 For East Coast, it's roughly a 70% increase.
00:07:46.980 That's a massive increase of what they're doing.
00:07:49.240 As of June 1st, as companies rush to import goods before May 12th, China's U.S. trade truce expires, with Jay Foreman of Basic Fund stating, the increase will squeeze profit margins, and it will result in higher prices for consumers.
00:08:04.540 Another $8,500 container is expected to be by June 15th, according to Journal of Commerce.
00:08:10.700 So gradually, they're raising the rates, going a little bit higher, a little bit higher.
00:08:14.780 And this leads me to, Rob, if you can go to the story with the money market.
00:08:19.580 There's a tweet I put up there from Shamat right there.
00:08:22.260 If you can show this.
00:08:22.920 Watch this.
00:08:23.880 So bar chart, Tom, if you take a look at this, a staggering $7.24 trillion is now sitting in money markets.
00:08:30.840 Can you just click on the – this is an all-time high.
00:08:34.560 Vinny, you know what this is?
00:08:35.380 You know what a money market is?
00:08:36.620 No.
00:08:36.780 So money market is kind of like – imagine you have a checking account.
00:08:40.240 You make no interest on it.
00:08:41.700 Then say you've got to save an account.
00:08:42.820 Let's say you make half a percent on it.
00:08:44.280 Barely.
00:08:44.620 Then let's say you've got a CD today.
00:08:45.960 I don't know what a CD pays today, Rob.
00:08:47.280 If you can pull it up.
00:08:48.380 What does a CD pay today at a bank?
00:08:51.680 Let's say it's 2%.
00:08:52.440 Yeah, one-year, two-year, five-year, Rob.
00:08:53.340 Whatever the number is it tells you.
00:08:54.640 Say it's anywhere between 1% to 3%.
00:08:56.720 I'm just making up numbers right now.
00:08:58.560 4.50?
00:09:00.120 Oh, 2.3.
00:09:01.120 The best CDs are paying 4.50, 4%.
00:09:04.600 Okay, great.
00:09:05.660 A six-month is paying 3.85.
00:09:08.160 They got a 4%.
00:09:09.140 So a money market today, what is the rate of return in the best money market account?
00:09:17.520 You can literally put your money in a money market today, no matter what the stock market does,
00:09:22.620 no matter what the stock market does.
00:09:24.240 Your money market, as of today, at any bank you choose, many of them, Discover Bank, 3.5%,
00:09:31.300 all the way up to 4.4%, okay?
00:09:34.480 Bank rate of intelligence, it's between 4% to 4.5%.
00:09:36.960 So let's just say a person's got a million dollars.
00:09:38.960 Let's say $10 million.
00:09:40.500 Okay.
00:09:40.840 You put $10 million in a money market, what are you making per year?
00:09:43.940 4%.
00:09:44.260 4%, 4.5%.
00:09:45.780 What's 4.5% on 10 million?
00:09:47.240 Oh, nobody.
00:09:48.260 $450,000 per year.
00:09:49.680 I was going to say it.
00:09:50.460 If a person's making $450,000 a year, you know what the money market was four years ago?
00:09:55.420 Nothing.
00:09:55.880 Go.
00:09:56.240 What was money market rates?
00:09:57.880 Money market rates in 2019, let's just say.
00:10:01.760 Below a percent?
00:10:02.140 Let me just find out what it was in 2019.
00:10:03.720 It was nothing.
00:10:04.160 It was 0.25.
00:10:05.400 Nothing.
00:10:05.720 In 2019, it was 0.01.
00:10:08.440 The point is it's gone up.
00:10:10.340 It's rarely this high.
00:10:12.340 So when you're seeing that much, okay, Rob, go back to the money market accounts where
00:10:18.620 it's at.
00:10:19.280 Look at this here.
00:10:20.400 We have $7.2 trillion.
00:10:22.180 $7.2.
00:10:22.800 Is it trillion?
00:10:23.360 I think it is trillion.
00:10:24.480 $7.2 trillion right now, Vinny.
00:10:26.580 That's sitting in money market.
00:10:27.940 That's cash.
00:10:28.600 That's a lot of money.
00:10:29.420 Do you know what that sign is of?
00:10:31.580 Because the president wants that money to be where?
00:10:34.860 If I believe in the future of S&P 500, where would that money be?
00:10:38.820 In the stock market.
00:10:40.000 If it's in the stock market, that means I'm optimistic.
00:10:43.420 Yes.
00:10:43.800 If it's in the money market, I'm saying, dude, I don't know what's going to happen to the
00:10:46.640 stock market.
00:10:46.760 I want to make sure my money is chilling.
00:10:47.460 I'm just going to be chilling.
00:10:48.400 So even with all the instability that's going on, if my prediction in the next 6 to 18 months,
00:10:54.180 that's going to drop to $5.5 trillion to $6.2 trillion because I think people are going
00:10:58.660 to go to the market.
00:10:59.340 Do you see how that looks like from 2008?
00:11:01.180 Jump.
00:11:01.500 How all of a sudden it dropped.
00:11:03.180 No, look at the drop.
00:11:04.040 What is the drop?
00:11:04.760 The drop is 2008.
00:11:06.220 No, the other one.
00:11:06.700 2008.
00:11:07.160 2008.
00:11:07.420 Go a little bit higher.
00:11:08.300 That's five.
00:11:09.100 Right there.
00:11:09.460 You see eight.
00:11:10.540 Boom.
00:11:10.780 All of a sudden it drops, which means people are going into the market, right?
00:11:13.980 I'm going to put some money in the market and I'm going to go in and boom, it spikes
00:11:17.240 up again.
00:11:17.700 I'm nervous.
00:11:18.360 So we haven't seen a drop off since 2018, 2019 in the market.
00:11:24.100 We haven't seen it.
00:11:25.220 So there's a concern here what that could look like.
00:11:28.000 Tom, your thoughts on this chart.
00:11:29.260 Well, this is a great chart, Pat.
00:11:30.200 There's two spikes.
00:11:31.180 You see the spike we have right now, which is like the tariff spike.
00:11:35.200 And then you have the spike.
00:11:36.580 Then there's a little flatness there where it's like a little jiggly.
00:11:38.980 And then you see that spike that's there, Vinny, 2020, 2021.
00:11:43.360 See that big spike right there?
00:11:44.640 You know what that was?
00:11:45.640 COVID.
00:11:46.340 Oh my God, what's happening?
00:11:48.140 I'm scared.
00:11:48.920 And I put out of the market and I put my money in a money market.
00:11:52.000 And then we come out of COVID.
00:11:53.240 It levels for a bit.
00:11:54.300 Now here come the tariffs.
00:11:55.440 Oh my God, I'm scared.
00:11:56.840 What do I do?
00:11:57.460 I pull out and I put my money in a money market.
00:11:59.440 But take a look at what's happening.
00:12:00.760 The S&P is back to 5850.
00:12:02.660 We had a big bounce yesterday because Trump said, well, you know what?
00:12:06.620 You know what?
00:12:07.160 Maybe I'll wait another 30 days, 60 days, 90 days before full impact of tariffs.
00:12:11.540 The market loved that.
00:12:13.260 So here we are, 5,900 again.
00:12:14.880 By the way, 6,150 is basically the all-time high under since November 4th.
00:12:24.320 Well, what do you think?
00:12:25.240 7.2 trillion in money markets.
00:12:27.200 Here's what I think.
00:12:27.960 The minute those things feel confident and they go out and start demanding stock, the
00:12:32.780 indexes are going to go up.
00:12:34.320 But what it says is that people are uncertain and a little bit scared at the moment.
00:12:39.020 That's what it shows.
00:12:39.800 It shows uncertainty and fear.
00:12:41.920 And the best thing when you're uncertain and fear is you flee to things like gold and cash
00:12:49.760 when interest rates are good with interest rates being the key there.
00:12:53.060 Rob, can you show us the new gear we have with Valuetainment merch for those that go to
00:12:58.140 the gym and work out?
00:12:59.000 Go for it, Rob.
00:12:59.600 That's sick.
00:13:08.580 Look at those legs, Pat.
00:13:13.640 Oh.
00:13:17.540 I feel myself, yeah.
00:13:19.840 Oh.
00:13:21.120 You see the eye wink?
00:13:22.280 You seeing that little wink at the end there?
00:13:23.900 I saw that sound else for you, baby.
00:13:25.240 All right.
00:13:25.680 The future looks strong and sweaty.
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