The iPhone maker is diversifying production to India amid tensions between the U.S. and China — but the U.S. president wants it to move stateside.

At the end of the day, the brunt of the tariffs will fall on US consumers, especially lower-income ones who rely on relatively inexpensive products from China. Now, Americans can expect longer wait times and higher prices, trade experts told CNN.

President Donald Trump has slashed the "de minimis " tariff on low-value packages imported from China to 54 percent, down from 120 percent, the White House confirmed in an updated executive order published late Monday.