Your Favorite Apple Products Now Have a 10-Percent Import Tax.
If you didn’t know already, the US administration is having a long-fought trade war with China. Due to this, Apple accessories such as the Apple Watch, Homepods, as well as the Airpod wireless earbuds, now come with a 10 percent import tax. These new tariffs will officially tax imports on all smartwatches, fitness trackers, smart speakers, as well as Bluetooth headphones. This will hit Apple pretty hard as it outsources a lot of its devices to China for manufacturing.
Other consumer electronics, such as smartphone and laptops will also be taxed. Although the taxes on those products have been delayed until December 15. But the taxes on the previously mentioned accessories will begin as early as September. Apple’s CEO Tim Cook stated in Apple’s last earnings call that the combined divisions for services, wearables, home, and accessories was roughly the size of a Fortune 50 company, according to The Verge.
Furthermore, Apple is in the process of removing manufacturing from China. They’re already being charged an extra 10 percent interest tax for its chargers. We’ll keep you posted as more on this story develops.