iPhones In India May Be $100 More Expensive Due To US’s China Tariffs
Jyotis - Aug 05, 2019
iPhones will probably be about $100 costlier in the United States when the country officially applies its 10 percent tariff on 300 billion dollars in goods that are imported from the biggest market in the world, China.
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According to the latest sources, iPhones will probably be about $100 costlier in the United States when the country officially applies its 10 percent tariff on 300 billion dollars in goods that are imported from the biggest market in the world, China. The new tariff will take into effect on September 01.
On August 02, CBS News quoted analysts’ forecast saying that “iPhone sales in the US, China and other markets could fall by 8 million to 10 million.” In terms of stock value, the iDevice manufacturer Apple has lost about 42 billion dollars after the US President Donald Trump posted a tweet on China tariffs on August 01.
Accordingly, the XS Max is now sold for $1,099 (approximately Rs 108,500 in the Indian market). However, with the new tariff, users will have to spend an additional $110 owning these iPhones.
After Trump’s announcement on the new 10 percent tariff on Chinese goods, the US-Sino trade war tends to become more stressful. In addition, the Chinese government in Beijing seems to get angry with the US President’s decision. Global financial markets must be also significantly affected.
The bad news occurs after the officials of both the United States and China have had recent talks. The major participants included the United States Trade Representative (USTR) Robert Lighthizer, the Secretary of the Treasury Steven Mnuchin, and Chinese delegation under the leadership of Vice-Premier Liu He. The talks took place in Shanghai and ended with some breakthrough.
The US’s tariff seems to aim at a variety of Chinese goods, including smartphones and clothing. In addition, Mr. President Trump claimed that these tariffs might increase to over 25% in the next stages. Only in 2018, the US has applied tariffs on the countless number of Chinese goods, and China has done the same thing to the US’s goods, too.