Apple temporarily escapes new tariffs as U.S.-China trade war escalates

“U.S. President Donald Trump made good on a trade war deadline on Friday, increasing tariffs on some Chinese imports,” Roger Fingas reports for AppleInsider.
“Goods already under a 10 percent tariff are now subject to 25 percent, according to BBC News,” Fingas reports. “Trump indicated that work is in motion, however, to slap a 25 percent tariff on another $325 billion in Chinese goods, which could harm Apple profits given that most its products are assembled in China by firms like Foxconn and Pegatron.”
“Talks between the two countries took a turn for the worse recently after the U.S. accused China of backtracking on key points,” Fingas reports. “Apple may be more likely to absorb any hit, since it can fall back on its $225.4 billion in cash reserves if all else fails.”
Read more in the full article here.
MacDailyNews Take: Hopefully, this propels both sides toward a deal that works for both sooner than later.
[UPDATE: 10:58am EDT: Revised Take due to some confusion over the timeline of the imposition of certain U.S. tariffs.]
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