logo
Plus   Neg
Share
Email

Trump's New Tariffs Wont Affect Apple Watch, AirPods

Tech giant Apple Inc.'s (AAPL) smart watch and wireless headphones will not be affected by the Trump administration's latest tariffs on Chinese imports.

Apple Watches and AirPods has been added on a list of 300 products that are exempt from the latest tariffs.

The Trump administration has imposed a 10 percent import tariff on a total of more than $500 billion of goods made in China, which is set to increase to 25 percent in 2019. The tariffs will go into effect on September 24.

Early this month, Apple had said that Trump's China tariffs are going to hurt the company.

In a letter to U.S. Trade Representative Robert Lighthizer, Apple said that a proposed 25% tariff on $200 billion worth of Chinese imports would cover a "wide range of Apple products," including the Apple Watch. The proposed tariffs would also affect the Apple Pencil, AirPods, Mac Mini, adapters, cables and chargers, testing equipment and repair tools.

"Our concern with these tariffs is that the U.S. will be hardest hit, and that will result in lower U.S. growth and competitiveness and higher prices for U.S. consumers," the company said in its letter.

Meanwhile, some of the Apple products, including its MacMini, will still be affected.

AAPL is currently trading at $219.92, up $2.04 or 0.94%, on the Nasdaq.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Malaysia has filed criminal charges against Goldman Sachs and two of the bank's former employees in connection with a corruption and money laundering probe tied to that country's sovereign wealth fund, 1 Malaysia Development Bhd, or 1MDB. Shares of Goldman Sachs are losing more than 2 percent in regular trading on the New York Stock Exchange. Alphabet Inc.'s Google said Monday that it will expand its presence in New York City by investing over $1 billion in capital requirements to establish a new campus known as Google Hudson Square. Google noted that its investment in New York is a huge part of its commitment to grow and invest in U.S. facilities, offices and jobs. Blockchain and artificial intelligence are the fastest-growing job categories, according to a report published by LinkedIn, the networking platform for professionals. Blockchain Developer is topping the list amid the ongoing hype around blockchain and cryptocurrency. As per the Emerging Jobs Report for 2018, the U.S has seen a surge in demand for people with blockchain development skills.
Follow RTT