Thursday 18 July 2019

Apple says trade war will reduce US gains

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Chris Prentice

APPLE said proposed US tariffs on goods from China, including iPhones, iPads and Macs, will reduce the company's contributions to the US economy and hurt its global competitiveness.

The US government should not move ahead with a proposal to impose tariffs of up to 25pc on another $300bn worth of goods from China, the tech company said in comments posted on a government website yesterday.

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Apple, which said the levies would also hit Airpods, Apple TVs and batteries and parts, is among the latest US companies to press the Trump administration to abandon its plan for more tariffs.

Trade talks between the United States and China are resuming after more than a month of impasse.

The countries' leaders are expected to meet at the G20 in Japan next week. US President Donald Trump had said he would consider placing tariffs on more Chinese goods after discussions fell apart in May.

Apple is the largest US corporate taxpayer to the US treasury and pledged in 2018 its plans to directly contribute over $350bn (€309bn) to the US economy over five years, the filing said.

In addition to reducing those contributions, Apple would take a hit because Chinese and other non-US firms do not have a significant US market presence. "A US tariff would, therefore, tilt the playing field in favour of our global competitors," Apple said.

Reuters

Irish Independent

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