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President Donald Trump recently imposed a 10% tariff on an additional $ 300 billion worth of products imported from China. The new tariffs would significantly affect Apple products, mostly made in China. Specifically, the new rates would affect products like the iPhone, iPad, Mac, as well as Apple watches, AirPods and other accessories.
The new rates are expected to hit the Apple Watch and AirPods on Sept. 1, while rates for the iPhone, iPad and Mac are due December 15. This is not the right time for Apple, considering that the company should launch new iPhones. and a Mac next month.
Trump could however reconsider the rates for Apple (via Bloomberg). Apple CEO, Tim Cook and Trump discussed new rates during dinner or Friday night, with Trump claiming that Cook had presented a "very convincing" argument in favor of the Apple case. Tim Cook apparently argued that it was more difficult for Apple to compete with Samsung because Samsung did not have to pay a lot of tariffs because it manufactures products in countries like Vietnam and South Korea (as well as China, of course).
"It's hard for Apple to pay rates if it's competing with a really good company that's not," Trump said.
The tariffs would obviously affect the profits of Apple and Apple on Apple products, unless the cost of tariffs is passed on to the consumer, which would further complicate competition between Apple and Samsung. However, there is still a chance that Trump will review the rates for Apple.
Tagged Apple, China, iPhone 11, MacBook Pro, Trump
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