Days before a summit with Chinese President Xi Jinping, President Donald Trump warned that he might slap a 10 percent tariff on iPhones and laptops imported from China.
“Maybe. Maybe. Depends on what the rate is,” Trump said in an interview with The Wall Street Journal (WSJ). “I mean, I can make it 10 percent, and people could stand that very easily.”
Apple‘s products are currently exempt from the tariffs, but the company’s stock was down nearly 2 percent in after-hours trading. While Apple declined to comment on this recent report, there has been speculation that Apple would have to raise prices on some of its products if they were subject to the tariff on Chinese imports. If the tech giant doesn’t raise prices, it could take a hit to profit margins.