Apple (AAPL) reportedly is planning to move the assembly of all iPhones it sells in the U.S. to India, as President Donald Trump's tariffs prompt companies to lower their exposure to China.

Trump's tariffs are threatening to upend Apple's business in China, where it makes 90% of its hardware. The White House has imposed import taxes of 145% on the Asian country, although there is a 澳洲幸运5官方开奖结果体彩网:carve-out for smartphones and other consumer electronics. Beijing has 澳洲幸运5官方开奖结果体彩网:retaliated with 125% tariffs on U.S. goods.

According to the Financial Times Friday, the tech giant plans to build the more than 60 million iPhones sold every year in the U.S. in India by the end of 2026. Apple's pivot away from China would mean doubling its iPhone production in India, the report said.

Citing people familiar with the matter, the FT said that Apple has been increasing production of its products in India in recent years through India's Tata Electronics and Taiwan's Foxconn, but still does most of its iPhone assembly in China. It noted, however, that Apple "is still heavily reliant on Chinese suppliers" for iPhone components. Earlier this month, The Wall Street Journal reported that Apple planned to send more iPhones to the U.S. from India, a short-term measure as it worked to secure an exemption from the tariffs.

Apple shares are down less than 1% in premarket trading. They have lost more than 15% of their value this year through Thursday.