I want recharge my iPhone from my Pi 3 Model B's USB port.
/boot/config.txt, I have set
This does not seem to have an effect any more. Why is this?
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The Pi3 is set to supply 1.2A and is not adjustable.
See Raspberry Pi Power Limitations for more detail.
Whether this will charge the phone, depends on the phone. Many phones have proprietary protocols to set charge rate.