“U.S. President Donald Trump made good on a trade war deadline on Friday, increasing tariffs on some Chinese imports,” Roger Fingas reports for AppleInsider.
“Goods already under a 10 percent tariff are now subject to 25 percent, according to BBC News,” Fingas reports. “Trump indicated that work is in motion, however, to slap a 25 percent tariff on another $325 billion in Chinese goods, which could harm Apple profits given that most its products are assembled in China by firms like Foxconn and Pegatron.”
“Talks between the two countries took a turn for the worse recently after the U.S. accused China of backtracking on key points,” Fingas reports. “Apple may be more likely to absorb any hit, since it can fall back on its $225.4 billion in cash reserves if all else fails.”
Read more in the full article here.
MacDailyNews Take: Hopefully, this propels both sides toward a deal that works for both sooner than later.
[UPDATE: 10:58am EDT: Revised Take due to some confusion over the timeline of the imposition of certain U.S. tariffs.]
SEE ALSO:
Dow futures fall after President Trump tweets ‘absolutely no need to rush’ on China trade deal – May 10, 2019
China overplayed its hand with U.S. President Trump on trade, and it could cost them dearly – May 9, 2019
Apple CEO Tim Cook optimistic about U.S.-China trade talks – February 12, 2019
President Trump says U.S. doing well in trade negotiations with China – January 23, 2019
China’s 2018 growth slows to 28-year low, more stimulus seen – January 22, 2019
Apple CEO Tim Cook: I’m very optimistic about U.S.-China trade talks – January 8, 2019
Advisor to President Trump: Apple’s sales should pick up when U.S.-China strike trade deal – January 3, 2019
I remember the time when I looked at electronics to be made at the USA or Japan, those were goods.
once I brought a Peavey amplifier and it says “MADE IN THE USA” and not like “U.S.A” (using periods) and a friend of mine told me that it was actually made in Taiwan, in a town they named USA so they can legally sell products saying that are made in the USA.
I think the president is trying to get those old times back, but boy, with those DAMN DEMS in the position, It is going to be very hard. If only Dems could be the “oposite party” for the GOP and not to the US people.
Be less gullible. With a quick search, you can see for yourself there is no city called USA in Taiwan.
https://en.wikipedia.org/wiki/List_of_cities_in_Taiwan
Also, stop pretending the GOP gives a shit about the American people. To them, only their personal bank account (or that of their campaign funders) matters. Every other principle of law or decency is easily negotiated away. As we are reminded daily……
If you ever get out from your mom’s basement, for something else than protesting for anything your sheep leader tells you to protest.. your will find that Wikipedia is feed by normal people who makes contributions, IS NOT AN ACTUAL ENCYCLOPEDIA.
Seems to me you only see the clowns network (CNN) or something like that.
Well, having said that, what is your point/ that the U.S.A was never a big name in electronics? did you born yesterday? are you one of those fanatics that think that Black panther is the first back hero completely ignoring the great Blade movies? or one or those saying that captain marvel was the first female lead movie ignoring wonder woman? or if you want to say MCU then you are ignoring Electra?
So you think that because you weren’t there when it happens that means that never happens?
Troy: grow up. You can pivot your attacks to question the validity of Wikipedia but your human-edited hardcover Brittanica isn’t the ultimate authority either. In this instance, you got called out on an incidental geographic error on your part and rather than laughing and stating your point about deceptive labeling still holds, you got your tighty whities into quite a knot. Your wild flailing about everything Hannity tells you you must hate is not healthy.
Did you return the Peavey? A Real Republican (R) would’ve.
This is a town in Japan named うさ(pronounced ŭ-sa. Their Romaji spelling is USA. They often stamped things that were made in the town as “Made in USA”. That made news both in Japan and with the US State Department, which sued them and forced them to stop using the Roman alphabet in all caps. They were forced to stop using USA and use Usa or their kanji equivalent.
No, AAPL is free falling the last three days. It does not escape tariffs at all. Plus the parasite TONI at BERNSTEIN has been calling selling AAPL because AAPL went ahead of itself, in another words AAPL is expensive. sell sell sell.
given that AAPL is higher now by ~150% than in 2012, “TONI” has only proved how utterly WRONG he was then. And hence now, too.
No tarrifs on bicycles an all related products.