Apple's Stock Surges After U.S. Delays Additional 10% Import Tariff on Products Like Cell Phones and Laptops

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Apple's stock has surged around five percent after the United States Trade Representative announced that an additional tariff of 10 percent on approximately $300 billion of Chinese imports will be delayed to December 15 for products such as cell phones, laptop computers, and monitors, per CNBC.


Moreover, the USTR said certain products are being removed from the tariff list based on "health, safety, national security and other factors" and will not be subject to the additional tariff of 10 percent whatsoever. It is unclear if this decision applies to any Apple products or accessories.

BREAKING: Stocks jump to session highs, Apple surges more than 4.5% after USTR removes items from China tariff list, delays some others including those on cell phones and laptops https://t.co/4gGcxyFOnV pic.twitter.com/AMmid6LZJY - CNBC Now (@CNBCnow) August 13, 2019

The USTR said it will provide additional details and lists of the tariff lines affected by this announcement on its website today.

The new tariff kicks in September 1 for the remaining Chinese imports impacted.

Note: Due to the political nature of the discussion regarding this topic, the discussion thread is located in our Politics, Religion, Social Issues forum. All forum members and site visitors are welcome to read and follow the thread, but posting is limited to forum members with at least 100 posts.

Article Link: Apple's Stock Surges After U.S. Delays Additional 10% Import Tariff on Products Like Cell Phones and Laptops
 
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sw1tcher

macrumors 68000
Jan 6, 2004
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Trump Admin backpedaling after they realized their new tariffs were going to hurt the consumer and U.S. economy, particularly with people going back-to-school and the upcoming holidays. And Apple's new iPhone launch next month.

Unfortunately, you cannot bully China into agreeing to a trade deal.
 

az431

macrumors 68000
Sep 13, 2008
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Apple got its exemption that it wanted.
Did you read the article?

It is unclear if this decision applies to any Apple products or accessories.

The USTR said it will provide additional details and lists of the tariff lines affected by this announcement on its website today.
 

eulslix

macrumors 6502
Dec 4, 2016
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This is a very very far stretch, but this also might be the reason why the 16" MBP gets pushed out so early. I think Tim Cook was negotiating with Trump since quite some time already.
 

lunarworks

macrumors 68000
Jun 17, 2003
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Meanwhile Trump is surprised China isn't bowing to his whim
View attachment 852785
This is what you get when you elect a bully whose idea of "negotiation" is not paying contractors a cent for their work because of a petty minor detail. His tactics work with small fish he can sue into oblivion, not world powers.
 

simonmet

macrumors 68030
Sep 9, 2012
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This is great news for both investors and consumers.

Unnecessary taxes on Apple products is not in the national interest, is not in the interests of consumers, and is not in the interests of investors who continue to back US innovation.
I’m stirring the pot here, but what is an “unnecessary tax”? Are all taxes unnecessary? How much is the right amount of tax and who is paying their fair share and who isn’t? It’s pretty clear where the majority of loopholes exist; I’m just saying.

Apple could absorb this tax easily and still remain ridiculously profitable. They pay hardly any tax. However, given the price of iPhones and Macs lately, and declining revenue of iPhones in particular, they’re probably nervous about putting any increase onto consumers and pushing the prices up even further like they usually do. You can bet they’re lobbying intensely for exemptions and are probably in part behind this extension. Timmy won’t want his precious margins or bonuses affected.
 
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sw1tcher

macrumors 68000
Jan 6, 2004
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Apple got its exemption that it wanted.
I wonder how many phone calls Tim Apple had to make to Trump and his people.


Did you read the article?

It is unclear if this decision applies to any Apple products or accessories.

The USTR said it will provide additional details and lists of the tariff lines affected by this announcement on its website today.
If USTR is delaying tariffs on cell phones and laptop computers, then more than likely it will include Apple's line of phones and even their laptop computers.

Aside from Samsung, which makes most of their phones in Vietnam, India, and S. Korea and would have been excluded from tariffs, Apple is the other big phone seller in the U.S. Why would USTR delay tariffs on phones and exclude iPhones from it? It wouldn't make any sense when Samsung and Apple have such big U.S. market share.

The other companies with the next largest U.S. market share are LG, Motorola, and HTC, but they're not U.S. companies, so why exclude any one of them and not Apple?
 
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IIGS User

macrumors 6502
Feb 24, 2019
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Yawn. If you want to troll, you gotta be a little more subtle and creative about it. This is a bit over the top.
be careful, you’ll be on the acronym crap list you incel MAGA hat wearing racist.

It’s all Trump’s fault. Remember?
 
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chfilm

macrumors 68030
Nov 15, 2012
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MAGA is a total fraud.

The factories have continued to close here since Trump was sworn in and move mostly to Mexico.

Trump lies on Twitter and the fanatics believe him.
Of course it’s a fraud. Drumpf is a populist of the elites, he doesn’t give a sh*t about the working class beyond the fact that he needs them to get re-elected to then change the constitution and install his family dynasty for good in power.
 

siddavis

macrumors regular
Feb 23, 2009
133
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It's hilarious to watch people badmouth tariffs and taxes that will "hurt the consumer" when they are implemented by someone they don't like or another political affiliation. Then they'll proceed to vote for more big government policies and programs and say the "rich" and corporations must pay the taxes or their "fair share" to fund them. No concern there about how those taxes get passed to the consumer and "hurt" them.

Zero principles
 
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