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
Asia-focused lender HSBC Holdings Plc reported Tuesday higher profit in its fiscal 2018 reflecting revenue growth in all of global businesses, despite a challenging fourth quarter. Further, the company said it reported a good start to 2019, noting that Group revenue performance in January was ahead of plan for the month. In London, HSBC shares were losing around 4 percent in the morning trading. McDonald's Corp. has announced the return of its popular Shamrock Shake milkshake for a limited time at participating U.S. restaurants nationwide. The minty green milkshake is made with McDonald's vanilla soft serve blended with Shamrock Shake syrup and topped with whipped topping. It first debuted on the McDonald's menu in 1970 and has been a seasonal tradition for nearly 50 years. Asia-focused lender HSBC, through its blockchain-powered platform, has reduced the cost of settling foreign exchange trades by 25 percent, Reuters reported quoting a bank executive overseeing the project. Mark Williamson, chief operating officer of FX cash trading and risk management, told that the bank processes between 3,500 and 5,000 trades a day on its "FX Everywhere" system.
Follow RTT