Tim Cook presented President Trump with a glass plaque with a gold base, which he said was made entirely in the U.S.Apple's CEO said all of the glass that Apple uses for iPhones and Apple Watches will soon be made in Kentucky by Corning. 🔗https://t.co/XLAOuNDeQO https://t.co/2M5lCmuDy1 ...

Core Insights - The U.S. has imposed an additional 25% tariff on Indian goods, leading to a potential total tariff of 50%, significantly impacting India's exports to the U.S. [1][2] - India's exports to the U.S. accounted for nearly 20% of its total goods exports, which reached approximately $434 billion in the fiscal year ending March 2025 [2][3] - The tariffs are expected to reduce India's GDP growth from a forecasted 7% to around 6% for the current and next year [3] Engineering Goods - Engineering goods are India's largest exports to the U.S., totaling nearly $117 billion, with about $19.16 billion (16%) sold to the U.S. [4] - The sector is already facing a 50% tariff on steel exports, which could worsen the outlook for other engineering segments [5] Gems and Jewelry - The gems and jewelry sector contributes 7% to India's GDP and employs around 5 million workers, with 33% of its exports directed to the U.S. [6] - Higher tariffs are seen as an additional burden on the sector, prompting calls for government support [7] Textiles and Apparels - The textiles sector employs about 45 million workers and also faces significant challenges due to the new tariffs, with 34% of its exports going to the U.S. [8][9] - The sector's competitiveness is at risk as it will no longer enjoy a significant duty differential advantage compared to other countries [9] Electronics - The electronics sector is highly exposed to U.S. tariffs, with 38% of its exports going to the U.S. [10] - India has recently become the top exporter of smartphones to the U.S., with exports of electronic goods more than doubling to $2.76 billion in March 2025 [11] Pharmaceuticals - The pharmaceutical sector, which is currently exempt from tariffs, faces potential duties that could reach as high as 250% in the future [12][13] - Exports to the U.S. reached over $10.5 billion, accounting for nearly 35% of India's total pharmaceutical shipments [13] Overall Competitiveness - India's export competitiveness is likely to be eroded over time as the U.S. can source supplies from alternative locations more easily than India can diversify its exports [15][16] - Approximately 32% of India's exports to the U.S. are currently exempt from tariffs, including electronics and pharmaceuticals [17]

Investment & Production - Apple is expected to commit an additional $100 billion (十亿) to domestic manufacturing [1] - This pledge aims to increase US production of Apple products [1] Trade & Tariffs - The increased US production is a strategy to avoid potential tariffs on iPhones [1]

Core Insights - Warren Buffett transformed Berkshire Hathaway from a struggling textiles company into a holding company managing a $292 billion portfolio of stocks and securities [1] - Buffett's largest investment is in Apple, totaling approximately $38 billion from 2016 to 2023, indicating a strong preference for the tech giant [2] - Despite significant investments in Apple, Buffett has invested over $77.8 billion in share buybacks since 2018, showcasing his strategy of returning value to shareholders [9] Investment Strategy - Buffett favors companies with steady growth, reliable profits, and strong management, particularly those with shareholder-friendly initiatives like dividends and buybacks [5] - The Coca-Cola investment exemplifies Buffett's strategy, with an initial investment of $1.3 billion now valued at $27.8 billion, alongside $776 million in dividends received in 2024 [6] - Berkshire's investment in Apple has yielded substantial profits, with the initial $38 billion investment now worth over $170 billion, representing half of Berkshire's total stock portfolio [7] Share Buybacks - Buffett has authorized $77.8 billion in buybacks since 2018, which is his preferred method of returning capital to shareholders [9] - No buybacks have occurred in the last three quarters, possibly due to Berkshire's stock reaching new highs, with a current price-to-sales ratio of 2.47, a 22% premium over its 10-year average [10] - Berkshire maintains $347 billion in liquidity, allowing for potential future buybacks when deemed appropriate [12] Future Outlook - Buffett announced plans to step down as CEO by the end of 2025, leaving significant decisions to his successor, Greg Abel, while continuing as chairman [13] - The impressive 4,470,000% gain in Berkshire stock from 1965 to 2024 translates to a compound annual return of 19.9%, significantly outperforming the S&P 500's 10.4% [14] - The substantial cash reserves position Berkshire for continued market outperformance under future leadership [15]

Financial Performance - Foxconn reported 15.8% growth in quarterly sales [1] Market Trends - Robust demand for AI servers and iPhones drove sales growth [1]

Production Shift & China's Response - China is observing manufacturing moving to countries like Vietnam and India and is attempting to counter this trend [1] - This counter-movement aims to attract specialized workers back to China, leveraging advantages in producing devices crucial to global markets, such as Apple's iPhones [1] iPhone Production & Location Factors - Tim Cook attributes iPhone production in China not only to cost reductions but also to the availability of specialized labor and equipment [2] - Reports indicate that while iPhone production in India may continue, the efficiency of the assembly line is likely to be affected [3] Cost & Quality Implications - Reduced assembly line efficiency in India could impact production costs and potentially the final product prices [3][4] - The quality of iPhone output from India is not necessarily expected to be affected [3]

You said before that nothing riles Indians more than the idea that the Indian government is getting bullied by a foreign leader or a foreign government. How are you analyzing the dynamics in these trade talks between the US and India. So first of all, thank you very much for having me on your show.That said, you know, India was initially amongst the first countries to set off on a trade deal. They have a rather ambitious agreement between Trump and Prime Minister Modi, about 500 million by 2030 in terms of ...