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Apple (AAPL) won't be able to flip a switch overnight and begin making iPhones in the US to appease the Trump administration. 

Plus, moving the supply chain will come at a cost to consumers.

"What happens is you start to build on a certain place, and then the plastics company is built near where they are, and then the resistor company, and then the display company. And so what happens is these other elements of the supply chains start to aggregate around the core elements of the supply chain, so they sediment into those locations. And that sedimentation takes decades," former Intel (INTC) CEO Pat Gelsinger told me on Yahoo Finance's Opening Bid podcast (video above; listen in below). 

Gelsinger called the effect "sedimenting."

He added, "There will be cost associated with bringing supply chains back. It took decades for them to sediment away. They don't return because you ask them to. They return because you've created economic incentives, capital, and capacity to drive their return."

Read more: The latest news and updates on Trump's tariffs

On April 9, the Trump administration announced a 90-day pause on all reciprocal tariffs except China. Tariffs on one of the US's most important trading partners now stand at 145% — a 125% reciprocal tariff and the 20% Trump previously levied.

A 10% across-the-board duty is still being applied to all other imports.

The administration further refined its tariff plans on April 11.

The White House issued a rule that spared smartphones, computers, semiconductors, and other electronics from reciprocal tariffs, especially the harsher tariffs on Chinese goods. US Customs and Border Protection said the goods would be excluded from Trump's 10% global tariff and the 125% reciprocal Chinese tariffs.

The administration said it's eyeing a tariff on semiconductors. 

For Apple, the tariff policy could drive up prices on products such as iPhones, Macs, and AirPods, experts say. That could stunt demand and continue to weigh on Apple's stock, which is down 22% year to date. 

"The tariff related cost headwinds, which are a non-factor with the exemptions, are unlikely to materially change the macro concerns in relation to the trade war between US and China driving a slowdown in both geographies, which are two key end-markets for Apple revenues. Pullback in consumer spending on account of the slower macro is likely to influence revenues despite the exemptions driving more confidence in gross margin sustainability," JPMorgan analyst Samik Chatterjee wrote in a recent note.

Apple pledged in February to invest $500 billion in the US, mostly tied to a new manufacturing facility in Houston to pump out servers that support Apple Intelligence. Absent the commitment was anything related to making consumer hardware in the US. 

CEO Tim Cook said in a 2015 interview that a skills gap in the US makes it difficult to produce Apple's products in the US.

"Look, you don't need a PhD in mechanical engineering to assemble an iPhone," US Treasury Secretary Scott Bessent told me in an exclusive interview last week when asked about Cook's prior comments. "So I'm not sure why Tim Cook says that the skills aren't here."

Three times each week, I field insight-filled conversations and chats with the biggest names in business and markets on Opening Bid. You can find more episodes on our video hub or watch on your preferred streaming service.

Brian Sozzi is Yahoo Finance's Executive Editor. Follow Sozzi on X @BrianSozzi, Instagram, and LinkedIn. Tips on stories? Email brian.sozzi@yahoofinance.com.

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