US President Donald Trump has dismissed complaints from Apple that new tariffs on Chinese imports could seriously impact its business. Trump tweeted that, to avoid the tariffs, Apple should make all its products in the US instead of sourcing parts from China.
His administration is planning on imposing additional US$267 billion (A$375 billion) worth of tariffs on Chinese goods. The technology sector is among the biggest potential losers as tariffs would make imported computer parts more expensive.
Apple’s AirPods headphones, some of its Beats headphones and its new HomePod smart speakers would also face levies. Apple accessories, such as mice, keyboards, chargers and even leather covers for iPhones and iPads would also face tariffs.
It’s not just Apple that will be affected. Mobile phones, the biggest US import from China, have been spared so far, but would be hit if Trump activates the new tariff list.
Shares in Apple, which is expected to unveil new iPhones on Wednesday, finished the week down US$6 at $221; Facebook lost $12 to $163; Alphabet tumbled $54 to $1218; and Amazon shed almost $60 to close at $1952.
