President Trump’s administration has been predicting its barrage of tariffs targeting China will push Apple into manufacturing the iPhone in the US. But that’s an unlikely scenario.

The iPhone 16 Pro Max 256 GB, which is among the devices that are assembled in China, retails for $1,199. Under the new tariffs on Chinese imports, the price of the device could rise by $675, or 56%, lifting the price tag to $1,874, an April 9 analysts from UBS Investment Research shows.

The trade war between the world’s two largest economies amounts to a battle of wills in which each stands poised to draw on economic advantages and political pressure points, analysts said. An assessment of each side’s leverage,