Apple iPhone: The news of the increase in the prices of Apple’s product is coming out between the US-China tariff war. According to a report by The Wall Street Journal, Apple is considering increasing prices for its upcoming iPhone lineup. However, the reason for the increase in prices has been explained to the update in new features and design rather than increase in tariffs.
The report states that the company ‘wants to avoid any perception that prices hike is related to American tariffs rising on Chinese imports’. By the way, many more devices with Apple’s high-end Pro and Pro Max models are still made in China.
Most of the iPhones sold in America to be built in India
Apple CEO Tim Cook has expressed the hope that most of the iPhones coming in the US market will be produced in India itself. The report states that Indian factories may be able to create a Pro model in the future, but the country still lacks necessary infrastructure and technical expertise. However, after this news came, Apple’s stock witnessed a jump of about 7 percent in premarket trading.
After the increased tariff on China’s China, reports claimed that the iPhone could be expensive by 30 to 40 per cent if Apple decides to cost high tariffs on consumers.
Today the news of reduced tariff has come to light
The report came out soon after the announcement of the plan to reduce the tariff on each other’s goods in an attempt to reduce the trade tension of the US and China. According to a statement issued in Geneva, the two countries have agreed to reduce the fees, giving them three months to work towards resolving comprehensive trade disputes.
According to the new conditions, the US will reduce its joint 145 per cent tariff to 30 per cent on Chinese imports, including fees related to Phantanelle. In return, China will reduce its 125 per cent duty on US products to 10 per cent. The statement said that the two countries will ‘establish a mechanism to continue discussing about economic and trade relations’. American trade representative Jamison Greer also emphasized that the US was aiming for ‘more balanced trade with China’.