Apple Chief Executive Tim Cook kicked off a plan to manufacture iPhones in India years ago. It was one of a series of savvy moves, along with a newly announced $100 billion U.S. investment, that have helped the company avoid President Trump’s recent tariff threats.

In a masterclass of trade-war theatre, President Donald Trump Wednesday wielded a 100 per cent semiconductor tariff like a cudgel—only to grant Apple complete amnesty moments later, creating a curious spectacle where the same India facing punitive 50 per cent duties for buying Russian oil will manufacture tariff-exempt iPhone 17s bound for American pockets.