This week, it was reported that Apple has flown six cargo jets with about 1.5 million iPhones from India to the U.S., per Reuters.
The tech giant reportedly began boosting its iPhone inventory in the U.S. in March when President Donald Trump first announced the possibility of tariffs on China and other trading partners.
But getting the phones here fast most likely won’t be enough.
Related: Apple Reportedly Airlifted More than a Million iPhones from India to the U.S.: ‘Wanted to Beat the Tariff’
The Trump administration said on Friday that the U.S.’s duties on Beijing are now 145%, and China raised its retaliatory tariffs on U.S. imports to 125%. Apple, meanwhile, makes around 80% of its products in China, which now means an additional 145% tax when imported.
In a note, Bank of America Securities analyst Wamsi Mohan estimated that the $1,199 iPhone 16 Pro could see a price increase of at least 25%, which would add a $300 bump, per CNBC.
However, a $1,500 iPhone is a lot cheaper than how much it would cost if it was made in the U.S.
Earlier this week, Wedbush’s Dan Ives said that if iPhone manufacturing moved to the U.S., the cost could be close to $3,500 — and it could take over three years and $30 billion just for Apple to move 10% of its supply chain to the U.S.
Related: ‘Everyone Is Here Because of the Fear’: Customers Rush to Apple Stores to Buy iPhones Before Expected Tariff-Related Price Increases
Still, in an interview with CBS on Sunday, Commerce Secretary Howard Lutnick suggested iPhones could be built in factories in the U.S.
“The army of millions and millions of human beings screwing in little screws to make iPhones, that kind of thing is going to come to America,” Lutnick said.
With all the back and forth, shoppers are racing to buy iPhones now, according to Bloomberg.
“Almost every customer asked me if prices were going to go up soon,” one employee told the outlet.
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