🎁 💸 Warren Buffett's Top Picks Are Up +49.1%. Copy Them to Your Watchlist – For FreeCopy Portfolio

Trump tells Apple to make products in U.S. to avoid China tariffs

Published 09/08/2018, 06:36 PM
© Reuters. FILE PHOTO: An attendee uses a new iPhone X during a presentation for the media in Beijing
AAPL
-

(Reuters) - U.S. President Trump tweeted on Saturday that Apple Inc (O:AAPL) should make products inside the United States if it wants to avoid tariffs on Chinese imports.

The company told trade officials in a letter on Friday that the proposed tariffs would affect prices for a "wide range" of Apple products, including its Watch, but it did not mention the iPhone.

Trump, speaking on Friday aboard Air Force One, said the administration had tariffs planned for an additional $267 billion worth of Chinese goods.

Trump tweeted that "Apple prices may increase because of the massive Tariffs we may be imposing on China - but there is an easy solution where there would be ZERO tax, and indeed a tax incentive. Make your products in the United States instead of China. Start building new plants now."

Apple declined to comment.

The technology sector is among the biggest potential losers as tariffs would make imported computer parts more expensive. Apple's AirPods headphones, some of its Beats headphones and its new HomePod smart speaker would also face levies.

© Reuters. FILE PHOTO: An attendee uses a new iPhone X during a presentation for the media in Beijing

"The burden of the proposed tariffs will fall much more heavily on the United States than on China," Apple said in its letter.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.