Apple is spending heavily due to tariffs imposed by US President Donald Trump. This is reported by UNN with reference to The Verge.
Details
Apple CEO Tim Cook said that tariffs could add $1.1 billion to the company's costs in the September quarter. He added that Apple had already spent about $800 million in the June quarter. This is less than the $900 million the company predicted in May.
Most of the tariffs we paid were IEEPA (International Emergency Economic Powers Act) tariffs, which were introduced earlier in the year and concerned China
It is also reported that Trump's tariffs have affected all Apple devices, which are mainly manufactured in China, India, and Vietnam. Cook said that "most" iPhones sold in the US are manufactured in India, and most Macs, iPads, and Apple Watches are manufactured in Vietnam.
The US President threatens to impose even higher tariffs on Apple if the company does not move part of its production to the States, The Verge reports.
Recall
US President Donald Trump maintained a basic tariff rate of 10% for countries with a trade surplus. For Canada, the duty increased by 35%, while for 40 countries with a trade deficit, the US set a minimum tariff of 15%.