Apple says China tariffs would hit Apple Watch, Air Pods

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According to CNBC, the company said that the President's proposed tariffs would impact various Apple products, such as the Apple Watch, AirPods, HomePod, Mac, Mini, Apple Pencil, and chargers and adapters for a number of gadgets.

The proposed tariffs of up to 25% on specific products imported from China to the USA would hit "a wide range of Apple products", the company said, including its Mac mini computer, chargers, adapters, specialized manufacturing machinery and more. This, however, only refers to Apple, the iPhone, and the other Apple products.

Apple declined to comment beyond its filed statement.

Apple has not responded to requests for comment. China's trade surplus with the US has, therefore, risen almost 15 percent from January to August 2018. So far, he has imposed 25% tariffs on $50 billion worth of Chinese imports, while China has retaliated by doing the same on a like amount of USA exports to China.

On Thursday, a coalition of 150 organizations representing retailers, manufacturers, ports and other industries wrote a letter to USTR Robert Lighthizer urging him to stop further escalation of the U.S. Comparatively few applauded the tariffs.

At the same time, Apple is already using components sourced from USA manufacturers in some of its products.

Apple did not disclose specific revenues for most of the affected products, but of those the Apple Watch may be the biggest seller. Interestingly though, the iPhone was not mentioned.

And Mr. Trump said he's winning the escalating battle over trade policy between the USA and China, but said he has more trade sanctions in the works.

Apple CEO Tim Cook remains "optimistic" the tariff issue will be sorted out. The US plan could take effect as soon as Friday, when a public comment period on the proposal ends.

The administration's "America First" policies have left the United States embroiled in tit-for-tat tariffs with the European Union, Canada and Mexico as well as an escalating trade war with China. "It may take longer to figure out what the repercussions are, but the USA will not be unscathed". "There's an inescapable mutuality that serves the bring the United States and China together", said Cook. China, for its part, may be willing to endure short-term pain and see how the US midterms turn out.

Trump upped the ante on Friday, warning he was ready to slap tariffs on almost all Chinese imports to the United States, threatening duties on another $267 billion of goods on top of $200 billion in imports primed for levies in coming days. Apple said "it is hard to see" how tariffs would advance the government's goal.

The administration could decide to begin taxing the imports - equal to almost 40 percent of all the goods China sold the United States previous year - after a public comment period ends Thursday.

With the added pressures from trade concerns, 10 out of the S&P's 11 major sectors ended lower.