Daily SumUp

Apple says it is shifting production of most iPhones and other devices to be sold in the US away from China, which has been the focus of President Donald Trump's tariffs.

The majority of the iPhones bound for the US market in the coming months will be made in India, while Vietnam will be a major production hub for items like iPads and Apple Watches, chief executive Tim Cook says.

It comes as the technology giant estimated that US import taxes could add about $900m (£677.5m) to its costs in the current quarter, despite Trump's decision to spare key electronics from the new tariffs.

The Trump administration has repeatedly said it wants Apple to move production to America.