New China tariffs could cost average U.S. household $1,000 per year

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money
Apple hasn't yet revealed if it's ramping up prices.
Photo: Ste Smith/Cult of Mac

New tariffs on imported Chinese products in the escalating U.S. vs. China trade war could cost the average household $1,000 per year, J.P. Morgan Chase claims.

The first round of tariffs went into effect Sunday at 12:01 a.m. They mean that various products, including some Apple devices, are taxed at 15% upon entering the U.S.

Trump admits his tariffs could give Samsung an advantage over Apple

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Donald Trump and Tim Cook
Apple CEO Tim Cook and President Donald Trump appear to have a good working relationship.
Photo: White House

During a Friday-night dinner with Donald Trump, Apple CEO Tim Cook very nearly convinced the president that import taxes planned for iPhone and other products would benefit Samsung.

Apple will pay proposed tariffs on products imported from China, while Korea-based Samsung — Cupertino’s chief competitor — will not.

Trump’s iPhone tariff reprieve is great news for Apple investors

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Apple just snapped up Intel's modem business for $1 billion.
Apple stock had a great day this week.
Photo: Mathieu Turle/Unsplash CC

Apple and its suppliers soared on the news that the iPhone would not be hit by tariffs in President Trump’s ongoing trade skirmish with China.

AAPL reached as high as $209.90 Tuesday. It started the day hovering around $200. That’s an increase of around 4.2%. Meanwhile, suppliers in Japan enjoyed a good trading day Wednesday. Some stocks jumped as up 6%.

Apple could be the victor of successful G20 trade talks

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Apple is not about to raise a white flag and give up on China.
Could the trade war with China be over?
Photo: Fredrik Rubensson/Flickr CC

Apple is the big winner of global trade talks at the G20 summit in Osaka, Japan.

That’s according to Wedbush analyst Daniel Ives. Ives notes that Apple has become the “poster child” for the U.S. vs. China trade war. As a result, the news that trade talks will resume between President Donald Trump and China’s President Xi Jinping is a winner for Apple.

End in sight for damaging trade war with China

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Apple is not about to raise a white flag and give up on China.
Trump’s trade war with China is bad business for Apple.
Photo: Fredrik Rubensson/Flickr CC

The burgeoning trade war with China has caused Apple no end of headaches. But an end could be in sight, according to Treasury Secretary Steven Mnuchin.

Speaking with CNBC, Mnuchin said that the U.S. and China have a “path to complete this.” He notes that both parties were “90% of the way there” during previous talks, before discussions broke down.

Trump’s tariffs may increase iPhone prices by 14%

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Donald Trump and Tim Cook
Apple CEO Tim Cook and President Donald Trump in a White House meeting earlier this year.
Photo: White House

Apple may soon be forced to raise iPhone prices if Donald Trump’s latest round of proposed tariffs on Chinese imports goes into effect.

Trump wants to slap tariffs on the remaining $300 billion worth of Chinese goods. The Office of U.S. Trade Representative began the approval process this week. Those tariffs could go into effect by June 24 and if that happens, some analysts predict Apple will raise iPhone prices by 14% or more to offset the costs.

Foxconn says it can’t afford to make TV screens in Wisconsin

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Foxconn signing
Foxconn and University Wisconsin officials signing a deal for a research center.
Photo: Bryce Richter/University of Wisconsin-Madison

Foxconn, which promised to create 13,000 jobs with a $10 billion factory in Wisconsin, won’t be producing state-of-the-art TV screens here as planned.

The news may not come as a big surprise to critics of the deal, which gave the iPhone maker the richest subsidy package in the state’s history. Foxconn has already forfeited some of those tax credits after it missed 2018 hiring goals.

iPhone suppliers could leave China if trade tariff hits 25%

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iphone XS
Apple will look to avoid iPhone import levies above 10%.
Photo: Apple

iPhone suppliers will reportedly consider moving away from China is U.S. trade tariffs hit 25 percent.

Sources say they will remain even if the U.S. introduces a 10 percent tax on smartphones, but they could be forced to “reassess the situation” should the Trump administration impose a higher rate on imported goods.

iPhone production could head to Vietnam to avoid U.S. trade tariffs

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iPhone XS box gold
Jeff Li and friends cashed in more than $1.1 million from the scam.
Photo: Ste Smith/Cult of Mac

iPhone assembly partner Foxconn is considering the possibility of opening a new facility in Vietnam in an effort to avoid U.S. trade tariffs.

The factory would focus specifically on iPhone production, according to a new report. Vietnam Chamber of Commerce and Industry Vu Tien Loc says talks with Foxconn are underway.