The United States has just announced new tariffs on Monday which is slated to hit the USD$200 billion worth of Chinese imports as the China-US trade war continues to escalate. However, President Donald Trump reportedly chose to spare Apple from this recent economic onslaught, as per the information tipped by unknown sources.
According to Bloomberg, a category of Apple products which include its Apple Watch line and AirPod headphones won't be affected by this fresh round of importation tax.
As cited over by the publication, a certain product code covering the aforementioned tech products wasn't included in Trump's final tariff list. The code for Apple's Mac Mini was also absent from the same list, suggesting that the home computer won't be suffering the same fate as with the other Chinese import products.
Even more so, several tech companies such as Fitbit Inc., with its product lines of smartwatches and fitness trackers, will get to enjoy Trump's duty exemption.
Trump's Tariff Announcement
On Monday, the US President formally unveiled the USD$200 billion of new import tariffs on China which are expected to slap 10 percent more tax on incoming Chinese goods.
A preliminary list from the administration in July revealed the inclusion of the aforementioned product codes which cover wireless devices. Other products from the Cupertino-based tech giant that were found under the listed code include speakers, headphones, and internet routers.
Sources tipped Bloomberg the value of the tech imports from China to be around USD$12 billion.
Prior to Trump's confirmation of the new tariff, technology companies protested against its imposition earlier this year. The final list of the taxed products seemed to confirm the administration's decision to exclude big consumer brands, like Apple and Fitbit, in this case, from the tariff.
Meanwhile, Trump's latest import duty is slated to take effect by next week, Sept. 24, starting at 10 percent and will continue to rise up to 25 percent by the end of the year.
Wireless Craze
Apple was able to sell close to 5 million smartwatches last year while Fitbit followed behind by 2.7 million units, according to this report.
Market analysts and financial experts are expecting for the figure to balloon even further, especially that the holidays are already closing in.
According to a representative from the Consumer Technology Association, in an email forwarded to Bloomberg, connected devices such as fitness trackers and smartwatches are one of the top gifts that people like to give and receive during this season.
