US tariffs bite Chinese industry
FT News Briefing
Forhecz Topher
4.4 • 1.2K Ratings
🗓️ 25 April 2025
⏱️ 13 minutes
🧾️ Download transcript
Summary
Apple plans to shift the assembly of all US-sold iPhones to India as soon as next year, factories in China have begun slowing production and furloughing some workers in the aftermath of US tariffs, and Alphabet shares rose after it reported first-quarter profit surged 46 per cent. Plus, the Trump administration wants to stamp out one of America’s enduring financial pastimes: writing paper cheques.
Mentioned in this podcast:
Alphabet shares jump as Google search boosts profits
Apple aims to source all US iPhones from India in pivot from China
Is Trump’s drive to kill the paper cheque a ‘no brainer’?
Chinese factories slow production and send workers home as US tariffs bite
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian, Ethan Plotkin, Lulu Smyth, and Marc Filippino. Additional help from Katie McMurran, Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.
Read a transcript of this episode on FT.com
Hosted on Acast. See acast.com/privacy for more information.
Transcript
Click on a timestamp to play from that location
| 0:00.0 | We're Equinor, an energy company searching for better. Currently, we supply 27% of the UK's gas, |
| 0:07.0 | 15% of its oil, and we're playing our part in the UK's energy transition. In 2023, we invested |
| 0:14.1 | 20% of our global gross spend in renewables and lower carbon solutions. Today, our wind farms power |
| 0:20.0 | 750,000 homes, and we expect this to grow to over 7 million |
| 0:24.2 | UK households. |
| 0:25.7 | We're an energy company searching for better. |
| 0:28.2 | equinore.co.uk. |
| 0:31.1 | Good morning from the Financial Times. |
| 0:37.1 | Today is Friday, April 25th, and this is your FT News briefing. |
| 0:41.4 | Tariffs are pushing some iPhone assembly out of China, and this trade war is also causing a downturn in Chinese manufacturing. |
| 0:49.9 | Plus, the Trump administration is trying to void paper checks. |
| 0:54.1 | Something that the non-U.S. mine kind of struggles to comprehend why checks have remained so popular in the U.S. |
| 0:59.8 | I'm Mark Filipino, and here's the news you need to start your day. Apple plans to shift to India for the assembly of all U.S. iPhones as soon as the end of next year. |
| 1:22.0 | That's according to F.T. sources. The company currently assembles most of its phones in China, |
| 1:26.9 | but U.S. President Donald Trump is targeting the country with massive tariffs, and those have hit Apple hard. |
| 1:33.4 | Apple still heavily relies on Chinese suppliers for earlier steps in the production process, though. |
| 1:39.4 | Now, the tech giant has already started diversifying its production to India, but it needs |
| 1:44.8 | to ramp up its capacity there even more in order to meet U.S. demand. |
| 1:56.2 | Of course, it's not just U.S. companies in China that have been bitten by tariffs. |
| 2:01.5 | Chinese factories are slowing production and furlowing some of their workers. |
| 2:05.5 | Many American companies are now canceling their orders and production lines are feeling |
| 2:09.6 | the pressure. |
... |
Transcript will be available on the free plan in 20 days. Upgrade to see the full transcript now.
Disclaimer: The podcast and artwork embedded on this page are from Forhecz Topher, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Forhecz Topher and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2025.