“Americans are calling for a larger trade deficit — literally,” Melvin Backman reports for Quartz.
“August trade data from the US Commerce Department shows that the difference between imports and exports surged 15% from July to $48 billion,” Backman reports. “One cateogory that’s leading the expansion is ‘cell phones and other household goods,’ which rose $2.1 billion, or 30%, from the previous month, for the category’s biggest monthly gain since 2001.”
Backman reports, “Economists are more or less attributing the jump to Apple’s new iPhone 6s, which has been selling at a record pace.”
Read more in the full article here.
MacDailyNews Take: Some trade deficits are better than others.
SEE ALSO:
Beleaguered Samsung finding it tough to compete Apple’s revolutionary iPhone – October 6, 2015
Wired reviews Apple’s iPhone 6s: ‘The most intuitive software and hardware of any phone’ – October 5, 2015
Financial Times reviews Apple’s iPhone 6s/Plus: The ‘s’ stands for speed – October 1, 2015
Ars Technica reviews iPhone 6s/Plus: 3D Touch and the A9 chip are the stars of the show – September 28, 2015
John Gruber reviews Apple’s iPhone 6s/Plus: Everything is new – September 23, 2015
Insanely Great: iPhone 6s benchmarks as powerful as the Retina MacBook – September 22, 2015
TechCrunch reviews iPhone 6s/Plus: ‘The camera alone is worth the price of admission’ – September 22, 2015
Mossberg reviews iPhone 6s/Plus: ‘The best smartphone, period.’ – September 22, 2015
The Verge reviews iPhone 6s/Plus: ‘You should buy an iPhone 6S Plus’ – September 22, 2015
USA Today’s Baig reviews iPhone 6s/Plus: 3D Touch, great camera add up to tempting upgrade – September 22, 2015
Apple sees fastest iOS adoption ever with iOS 9 as iPhone 6s/Plus set to arrive on September 25th – September 21, 2015
Apple, enough with the stupid iPhone ‘S’ naming already – September 16, 2015
$48 billion in imports?
“the difference between imports and exports” –> $48B
The thing is that a LOT of the “imports” are goods designed and sold in the US by US companies. While iPhones are imported, if Congress would finally allow Apple to import back its profits, much of that money going out (by buying imports) would come back in.
So, Apple sold more than almost everyone anticipated out of the gate, but not enough, and it’s been downhill since then, and they’re to blame for a trade imbalance because so many people are buying them though they’re about to go belly up because they’re not selling enough although they’re making almost all the profits and are increasing market share. So, who’s got the acid?
Sounds like you already took it.
Is a Ford car or truck made in Canada or Mexico but purchased in the U.S. an import? What about a Toyota or Volkswagen actually made in the U.S.? The money Apple makes from selling phones to U.S. customers is U.S. profits and are fully taxed. The money it makes from sales overseas stays overseas. Apple now makes slightly more money from overseas sales than in the U.S. (Wasn’t it something like 56% reported in the last earnings report?) I find it hard to believe that Apple can be cited as the main source of a trade imbalance because of a year old model of a phone.
Well, not quite. When an iPhone is shipped from China to your home (or your Apple Store), it crosses American border. People who built it got paid in Chinese currency, and Apple paid them to make it there. As such, iPhone is an import, as is a Dodge made in Canada. Toyota or VW, on the other hand, are domestic vehicles (for the purposes of international trade), since the people who made them were Americans and the cars never crossed any borders to get to you.
In other words, as far as international trade is concerned, Apple is simply the middleman between the manufacturer of that iPhone (Foxconn), and the US consumer — much like Best Buy or Walmart. The only major difference is that Apple’s profit margin on that iPhone from Foxconn is much bigger for Apple than for Best Buy.
What kind of Apple slurring is this? Android phones are made in China and greatly outnumber iPhones coming into the U.S. Why do you post this B.S. and give the Apple slurring morons any press?
This is click-bait for the ignorant.