What you need to know
- President Trump on Thursday said the U.S. will put additional 10% tariff on goods imported from China.
- The new round of tariffs will go into effect on September 1.
- Apple Stock fell following President Trumps latest Tweets.
Apple stock fell more than 2% on Thursday following remarks from President Trump about imposing additional tariffs on goods imported from China.
Starting September 1, Trump said an additional 10% tariff will be placed on the remaining $300 billion worth of goods and products set to be imported from China into the U.S. The additional tariffs doesn't include the $200 billion already tariffed at 25%.
...during the talks the U.S. will start, on September 1st, putting a small additional Tariff of 10% on the remaining 300 Billion Dollars of goods and products coming from China into our Country. This does not include the 250 Billion Dollars already Tariffed at 25%...— Donald J. Trump (@realDonaldTrump) August 1, 2019
...We look forward to continuing our positive dialogue with China on a comprehensive Trade Deal, and feel that the future between our two countries will be a very bright one!— Donald J. Trump (@realDonaldTrump) August 1, 2019
So far, Apple's most important products have escaped the effects of the tariffs. However, Trump's newest announcement could reach Apple's most popular products, including the iPhone, iPad, Mac, AirPods, and Apple TV.
President Trump recently called out Apple about making Mac Pro parts in the U.S., rather than relying on China. "Apple will not be given tariff waiver, or relief, for Mac Pro parts that are made in China," Trump said.
In response, Apple CEO Tim Cook said the company wants to make the Mac Pro in the U.S. and is making investments to make that happen.
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