Trump: US consumers can easily stand 10 percent tariffs on iPhones
President Donald Trump is mulling over how to enact tariffs on more than $200 billion of Chinese goods. Those goods are already on a 10 percent premium, but from January 1, the administration is set to move the mark to 25 percent.
Beijing wants Trump to put a hold to the hike, but the commander in chief has told The Wall Street Journal that unless the Chinese position changes, he also won’t.
“The only deal would be China has to open up their country to competition from the United States. As far as other countries are concerned, that’s up to them,” the president said.
The Chinese government only allows foreign companies to set up operations in the country if they file as a joint venture with a domestic company.
When the Journal asked if consumer goods like Apple’s iPhones and Mac computers would be affected by the increase, Trump didn’t specifically say.
“Maybe. Maybe. Depends on what the rate is. I mean, I can make it 10 percent and people could stand that very easily,” Trump said.
Tariffs on raw and durable goods have more than likely contributed to retail price increases indirectly, but duties on consumer goods have, for the most part, not moved.
Apple imports assembled products directly from China, so it has a strong interest in trying to convince Trump not to go through with increases.