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iPhones To Get Costlier Amidst US-China Trade War
May 16, 2019
The ongoing trade war between the US and China has caused Apple’s iPhone production costs to rise as much as 3% because of the new retaliatory tariffs imposed by Beijing. The tariffs on the device’s Chinese-made batteries and other components would increase its manufacturing cost by extra $120 each. For Apple to reap the same profit on each iPhone as before, the company will have to increase the prices by a similar amount. The price of an iPhone XS, for example, would rise from $999 to as much as $1,029. Apple’s costs could soar higher if the Trump administration follows through with a plan to add $325 billion in tariffs to Chinese goods.
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