The disincentives for Apple shifting its production domestically include a complex supply chain that it began building in China during the 1990s.

The iPhone 16 Pro Max 256 GB, which is among the devices that are assembled in China, retails for $1,199. Under the new tariffs on Chinese imports, the price of the device could rise by $675, or 56%, lifting the price tag to $1,874, an April 9 analysts from UBS Investment Research shows.