Thursday 23 May 2019, 04:17 PM
US-China trade war could make iPhones 3% more costly
By IANS | Bharat Defence Kavach | Publish Date: 5/15/2019 11:20:17 AM
US-China trade war could make iPhones 3% more costly

San Francisco: The ongoing trade-war between the US and China has caused Apple's iPhone production costs to rise as much as 3 per cent because of the new retaliatory tariffs imposed by Beijing. "Tariffs on the device's Chinese-made batteries and other components would increase its manufacturing cost by 2 per cent to 3 per cent," Fortune quoted a Wedbush analyst Dan Ives as telling investors.

To recoup the same profit on each iPhone sold as before, Apple would need to increase iPhone prices by a similar amount. "The price of an iPhone XS, for example, would rise from $999 to as much as $1,029," the report said. 

According to Ives, Apple's costs could soar higher if the Trump administration follows through with a plan to add an additional $325 billion in tariffs to Chinese goods. If that happens, iPhones would cost an extra $120 each to produce. Ives' estimates are just the latest by analysts about the impact of the U.S.-China trade war, the report added. 

On May 10, that fight entered a new phase when President Donald Trump's administration announced $200 billion in new tariffs on Chinese imports. In response, China on Monday retaliated by announcing $60 billion in tariffs on US-produced batteries, coffee, and other products. Those tariffs would take effect on June 1. 

 

Tags:

ongoing,trade-war,retaliatory,Beijing,iPhone,production,retaliatory

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