White House trade adviser Peter Navarro said Apple "thinks it is too big to tariff," underscoring tensions between the Trump administration and the iPhone maker over where it manufactures its products. Speaking in a 9 July Fox Business interview, Navarro argued that the company has been slow to shift production from China to the United States despite the administration’s push to repatriate supply chains. Navarro’s remarks come three months after Washington imposed a 145% tariff on a wide range of Chinese imports, a measure that has increased pressure on U.S. technology firms with substantial operations in China. He added that investors should view recent trade letters as part of ongoing negotiations and repeated his call for the Federal Reserve to cut interest rates at its July meeting to mitigate trade-related economic headwinds. Apple shares fell about 1% in pre-market trading following Navarro’s comments, reversing earlier gains. The stock move highlights investor sensitivity to signs that the company could face higher import costs or other punitive measures if it does not accelerate the relocation of its manufacturing footprint.