Apple CEO Tim Cook spoke with U.S. Commerce Secretary Howard Lutnick last week about the potential impact of President Donald Trump's tariffs on iPhone prices, the Washington Post reported on Thursday,

There is little doubt that almost every Apple product is going to go up in price, but it's difficult to estimate how much, or when.

President Donald Trump announced an additional 50% tariff on goods imported from China, which could potentially double the price of Chinese imports. Trump's additional tariffs followed China's announcement that it was matching the "reciprocal tariff" Trump announced last week amid the new sweeping tariffs on US imports.