In a recent interview with The Wall Street Journal, US President Trump said he might consider signing a 10% tariff on iPhones and Apple products imported from China. Trump is all set to meet with Chinese leader Xi Jinping this week and that if the negotiations are going well, he will be prepared to introduce additional tariffs on goods that are currently not taxed.
The report points out that the US government has been worried about the reaction of consumers if these goods need to be taxed, but Trump believes that if they charge 10% tariff on mobile phones and laptops, people will still accept that: "I mean, I can make it 10%, and people could stand that very easily."
Image Via BetaNews
He said the tariffs could also be placed on iPhones and laptops imported from China. The administration has been worried about a consumer reaction should such items be subject to levies.Apple had previously sent a letter to the US government urging it not to impose tariffs affecting Apple products, hoping that the government would look for other more effective ways to handle the problem. Currently, Apple devices are all exempt from tariffs, we may see a price hike if Trump plans to implement tariffs. And because of that, Apple's stock has dropped 2.03% in after hours trading.
"Maybe. Maybe. Depends on what the rate is," the president said, referring to mobile phones and laptops. "I mean, I can make it 10%, and people could stand that very easily."
Image Via BetaNews