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Apple says Trump’s tariffs will boost costs by $900mn in June quarter

Chief executive Tim Cook says it is ‘very difficult’ to make predictions for latter half of 2025

Apple chief executive Tim Cook has warned that Donald Trump’s tariffs will increase costs by $900mn in the quarter to the end of June, marking the latest sign of how the levies are cascading across corporate America.

Cook said in a call with analysts on Thursday evening that “assuming the current global tariff rates . . . do not change for the balance of the quarter, and no new tariffs are added, we estimate the impact to add $900mn to our costs”.

But he said the uncertain tariff environment had made it “very difficult to predict beyond June” how the levies would affect Apple’s costs.

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