President Trump says that the U.S. and China have come to an agreement to hit pause on the escalating trade war between the two countries.
Trump’s comments follow on from the G-20 summit in Argentina, in which he met with Xi Jinping, president of the People’s Republic of China. The 90-day delay on tariffs will cause a sigh of relief for executives at Apple, since the iPhone was recently threatened with additional tariffs.
There’s a good chance the iPhone and other Apple products will be hit with tariffs in the Trump administration’s trade war with China. The president has repeatedly stated his simple solution: Make the iPhone in the United States.
But an analyst warns that moving assembly of Apple’s handsets to the U.S. would significantly increase their price.
Apple products have so far escaped the growing trade war between China and the Trump administration, but the grace period may be coming to an end soon. The president is getting ready to put tariffs on additional products being imported from China, and that specifically includes the iPhone.
The iPhone outsold Chinese rivals on Alibaba platforms during China’s Singles Day on November 11. Singles’ Day is a holiday in which people not in a relationship buy themselves gifts.
Alibaba, the e-commerce giant that is the equivalent of China’s Amazon, sold a record $30.8 billion in gross merchandise during the day. Apple’s position as number one mobile brand is therefore pretty darn impressive!
Apple just had its best September quarter of all-time and CEO Tim Cook couldn’t have sounded happier when he got on the phone with investors today. The company is heading into the holiday season with its best lineup ever and expects to set more records next quarter.
Investors did not seem to be too impressed with the results though. Apple’s stock price dropped from $222.22 to as low as $206 in after-hours training. Despite Wall Street’s worries about Apple, there was plenty of achievements for Tim Cook and Luca Maestri to boast about on today’s call.
There were the biggest revelations from today’s call: