That's exactly what this is.
In a way the China thing is even worse because Apple is not a Chinese company. There is realistically more Trump could do to harm Apple than the CCP.
Of course I suppose Apple has outsourced all their manufacturing to China, so there's that. I must admit a bit of schadenfreude at watching the great greed-driven amoral outsourcing rush of the past 50 years start backfiring badly as I knew it always would.