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US and China trade tensions are boiling and have already spilled over to the smartphone market.
Last month, when the US more than doubled tariffs on $200 billion of Chinese goods, China retaliated by taking $60 billion worth of US goods that previously had tariffs of 5-10% and placing those items into four new tariff groups: 25%, 20%, 10%, and 5%, according to The New York Times.
Companies involved in the smartphone market are not immune from the effects of this retaliation.
Here's what it means: The escalating trade war could lead major phone brands like Apple to shift their centers of production.
Foxconn, Apple's biggest iPhone manufacturer, said it could move all production of US-bound iPhones out of China if needed.