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SAN FRANCISCO (BLOOMBERG) – Apple Inc., which has lost a fifth of its value since October in the tech market, is expected to face a new setback after US President Donald Trump suggested that tariffs of 10% are applied to mobile phones, like the iPhone and laptops made in China.
The company is already faced with information that vendors are reducing their forecasts, signaling that new iPhone models introduced in September are not selling as well as expected. Trump's comments to the Wall Street Journal that it might include Apple's flagship product in a new round of tariffs on imports from China is another blow.
"Maybe, maybe it depends on the rate," said the president, referring to mobile phones and laptops. "I mean, I can win 10%, and people could handle it very easily." Apple's shares fell about 1.6% in extended trading on Monday as a result of comments.
The United States is expected to increase import duties on goods from China to an amount of about US $ 200 billion, from 10% on January 1 to 25%. The vast majority of iPhones and other Apple products are made in China and exported around the world. Apple could not be contacted for comment.
Until now, the most lucrative devices of Apple, such as the iPhone and the iPad, have been excluded from US tariffs. Earlier this year, Apple had announced that products like Apple Watch and AirPod would be affected before the United States imposed any tax. Nevertheless, the company warned in September that other items, such as the Mac mini, the Apple Pencil stylus, as well as some cables and cases, could be damaged.
The company has manufactured a small percentage of older iPhone models in Brazil and India in recent years, partly to avoid local taxes on imported products. Trump has repeatedly suggested that Apple should bring iPhone manufacturing to the United States
In his early years at Apple, CEO Tim Cook answered questions about increasing manufacturing in the United States by saying that skills learned in China were more conducive to manufacturing the company's products. .
However, over the past few months, Cook has changed his vision, stating in an interview this year that "it's not true that the iPhone is not manufactured in the United States". Some components, such as the smartphone's glass cover, are made in the United States and shipped for assembly in China.
For almost two years now that Trump has held his position, Cook has met several times at large meetings with other technology leaders and privately at the White House.
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