If you’re looking to upgrade your smartphone, buy a laptop or a tablet, we’d recommend grabbing one of the holiday deals available, because things are looking pretty grim for 2019. Well, that’s if you’re shopping from the US.
A new report on Wall Street Journal says that starting with January 1st, it’s highly likely that there will be a 10 to 25 percent increase in tariffs on smartphones and other devices made in China and imported to the US.
This is in line with President Trump’s idea to move production of goods from China back to the US but, as usual, no concrete information is available. There’s no official line on how big of an increase in tariffs companies are expected to shoulder but even 10% could be dramatic for companies like Apple.
“Maybe. Maybe. Depends on what the rate is, I mean, I can make it 10%, and people could stand that very easily,” said President Trump.
Meanwhile, after the news, Apple stock value decreased by 1.6% on Monday, as the company so far has been exempted from paying tariffs due to the manufacturing of some parts in the US.
This is just the latest update in the trade war between China and the US, with Mr. Trump not showing signs of wanting to end his crusade anytime soon. Popular PC case makers CaseLabs were already forced to shut down and go in liquidation back in August, after a 25% increase of US taxes which hit the company “at the worst possible time”.
Also read: ✍China and U.S Trade War: Jack Ma Takes Back Promise To Bring 1 Million Jobs To The U.S✍
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