Apple, Fitbit Join Companies Calling For Tariffs Lift
Apple and Fitbit have joined other US companies in calling on the Trump administration to stop increasing tariffs on Chinese manufactured products that will potentially decimate companies’ bottom lines.
HP, Dell, Intel and Microsoft voiced their opposition to further tariffs earlier this week, claiming they would hurt consumers and the industry while doing nothing to alter China’s trade practices.
Trade relations between the US and China have been strained and talks to resolve the conflict have been on hiatus for over a month, but US President Donald Trump and Chinese President Xi Jinping are expected to have another round of talks at the G20 Summit in Japan next week according to Reuters.
The US-based companies claim further tariffs would hurt their business and give an unfair advantage to global rivals.
Apple said in its filing that it was the largest US corporate taxpayer, and threatened tariffs could cut its contributions to the US Treasury.
Fitbit claimed the tariffs gave an unfair advantage to overseas rivals and warned consumers could opt for cheaper devices made by Chinese companies, which could pose “national security concerns by placing sensitive U.S. health, location and financial data within the Chinese government’s reach”.
Companies have warned the tariffs would potentially cause them to raise prices at a bad time for consumers, coming just before the back-to-school period.