Money can buy you happiness -- and access -- but it still won't insulate you from President Donald Trump's trade war, as Apple CEO Tim Cook found out Friday.

President Donald Trump has said he expects iPhones sold in the U.S. to be "manufactured and built in the United States, not India, or anyplace else."

For now, most of Apple's most important products are exempt from tariffs after Trump gave phones and computers a tariff waiver — even from China — in April.