Apple

Shortly after China joined the WTO in 2021, Apple began making its new iphones in China. The Chinese offered free land, tax breaks and cheap labor. As time passed Apple invested more than one trillion dollars in China but they were not business partners they were held hostage. China could at any time take away Apple’s export license and put them out of business. Apple realized they were in an untenable position and needed a way out and along comes Trump, who threatened to put high import taxes on products from China. As Apple begins shifting iphone production to India and Vietnam, it is spending $500 billion on new manufacturing facilities in the US. China responded by placing export restrictions on Apple but the die is cast. Apple will, over time, decouple from China and many other companies are doing the same.