Apple says proposed tariff list covers a wide range of Apple products

Apple says proposed tariff list covers a wide range of Apple products

Apple says proposed tariff list covers a wide range of Apple products

In response to the Trump administration's proposed $200 billion tariffs on Chinese goods, Apple has sent a letter to the USA government urging not to apply the tariffs that will affect Apple products and to find "other, more effective" solutions instead, MacRumors is reporting.

The US-China trade spat escalated on July 6 when US President Donald Trump slapped tariffs on USD 34 billion in Chinese goods, triggering a dollar-for-dollar response from Beijing.

The Trump administration has placed punitive tariffs on US$50 billion in Chinese goods and threatened to tax all Chinese imports to the United States.

"I hate to do this, but behind that ($200 billion tariff list) there is another $267 billion ready to go on short notice if I want", Trump told reporters. "That totally changes the equation". China plans to tax an additional $60 billion in USA products if the Trump administration expands its hit list by $200 billion.

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U.S. companies have warned that the tariffs, which would cover a huge range of industrial and consumer goods, would cause costs to increase. It brought in about US$6.1 billion in revenue previous year, according to an estimate from analyst firm Bernstein, a small portion of Apple's US$229 billion in overall sales. Apple said it was "difficult to see" how tariffs would advance the government's goal. In the U.S., that price jumps up to around $600, pushing the device - at the time - to a predicted price of $2000, far more than what would be seen under the tariffs. But David French, top lobbyist for the National Retail Federation, whose members include, BJ's Wholesale Club and Macy's, said almost every consumer good could be affected if Trump follows through on all threatened tariffs. Apple's letter to the U.S. trade office named several company products that risk facing duties; they include the HomePod, the Apple Pencil, company chargers and adapters for Apple devices, and even the leather covers for iPhones and iPads.

The company noted it spent US$50 billion with 9,000 USA suppliers in its most recent fiscal year, including Texas-based chip firm Finisar Corp and Kentucky-based Corning Inc.

"The Chinese aren't paying these tariffs, American families are going to pay these tariffs". Due to a wide trade imbalance between the two nations, it can not fully retaliate with tariffs on $200 billion of US imports.

While China's response to US demands has been unsatisfactory, Trump is still speaking to Xi, and would be open to meeting in person, said Kudlow, director of the White House's National Economic Council. Those talks will continue to go on. The combined amount would cover the value of all goods China ships to the United States. The strong performance of markets over the past few months "keeps getting disrupted by news on trade" and "it's just another indication we're not out of the woods yet", she said. "However, hope springs eternal".

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