Apple Inc. faces a potential 25% tariff on iPhones made outside the U.S., directly threatened by President Trump. The company’s shift to India and Vietnam was meant to reduce China risk, but it’s now clashing with U.S. political pressure.

Apple’s stock has sold off on tariff fears, but the company still has a healthy business underpinned by a sticky ecosystem and robust array of services offerings.

Wall Street had its worst week since early April after President Trump said he would impose steep tariffs on E.U. goods and targeted Apple with a tax on foreign-made iPhones.