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.
A bunch of Apple products will be hit by new levies on Sunday after being entered into the Federal Register today.
Apple Watch, AirPods, iMac and more will be taxed 15% when entering the U.S. from China. It will be the first time Apple has been affected by the ongoing trade war.
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.
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 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.
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.
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, 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 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 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.
The Trump administration is expected to spare three Apple products from the next round of tariffs, but escalating conflicts with China could still be a costly problem for the tech giant should a full-blown trade war ensue.
Bloomberg news, siting five unidentified sources, said a product code that covers the Apple Watch, AirPods, and HomePod smart speaker, is not listed among some $200 billion in Chinese products subject to a new 10 percent tariff expected to be announced later this week.
Trump’s latest round of proposed tariffs will negatively impact Apple’s revenues but according to some numbers crunched by an Apple analyst, investors shouldn’t worry about the company’s profits being hit too hard.
Apple revealed last week that some of the proposed tariffs would hurt the profitability of Apple Watch, AirPods, HomePod and Apple Pencil. Price increases would be passed on to consumers, however, it probably won’t be more than a 20% jump.
Apple may have just reported yet another record quarter, but there’s a potential dark cloud lurking on the horizon in the form of the impending China trade war.
Not only has Tim Cook been outspoken about China being Apple’s future biggest market, but Apple also relies on China for the majority of its manufacturing. In other words, Apple has a problem — and in this case it’s a problem that could be passed onto you, the customer.
Apple might have been reassured at the news that tariffs in the U.S.’s trade war with China wouldn’t hurt the iPhone and the iPad — but apparently nobody said anything about the Apple Watch.
According to a new report, the latest round of U.S. tariffs on approximately $200 billion goods imported from China could hit Apple’s wearable device.
Following yesterday’s WWDC keynote, Tim Cook participated in an interview on CNN with Senior Technology Correspondent, Laurie Segall.
In a wide-ranging interview, Cook discussed everything from the threat of machines taking over to the “fundamental human right” of privacy to why he’s not interested in running for office. Here are the big takeaways:
