Increased Tariffs Could Raise iPhone XS Price by $160
Following an increase of tariffs on Chinese goods by the Trump administration on Friday, today China retaliated, and the iPhone XS price could be affected (via MarketWatch).
Trade War
So far, Apple has been able to escape the ongoing trade war between the United States and China. Apple CEO Tim Cook has engaged with President Trump and kept its iPhones off of the tariff list. But that might not be enough anymore.
Credit: dhe haivan on Unsplash
Starting June 1, China will raise tariffs as high as 25% on about US$60 billion worth of U.S. goods. An estimated 5,000 products will be affected, like frozen fruits, vodka, and the iPhone XS, which could see a price increase of US$160.
Increased tariffs on Chinese goods will hike prices for consumers goods, analysts say. The latest tariffs will add another $500 a year in costs for the average U.S. household, Katheryn Russ, an economics professor at the University of California at Davis, told NPR. Another estimate says the tariffs announced last year will cost consumers an average of $767 per year.
Further Reading:
[Tim Cook Made Sure Apple Won in the US-China Trade War]
[Apple and Qualcomm Agree on One Thing: China]
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