Trump "Looking At" Exempting Apple from China Tariffs

It appears that Apple will get another shot at a tariff exemption.

President Trump had previously given an emphatic no to Apple’s exemption request for its Mac Pro parts made in China.

"Apple will not be given Tariff wavers [sic], or relief, for Mac Pro parts that are made in China," Trump said on Twitter. "Make them in the USA, no Tariffs!"

So what changed in the interim?

One of Apple’s chief competitors, Samsung, is based in Korea, which exempts them from the tariffs.

"We’re looking at that, and the problem we have is you have Samsung — it’s a great company but it’s a competitor of Apple. And It’s not fair because we have a trade deal with Korea,” Trump said from Apple’s factory in Austin, TX.

Of course, most companies affected by the tariffs simply pass on the added cost to consumers, but that certainly doesn’t help sales – especially for Apple’s Mac Pro, which will supposedly run just under $6,000.

Trump is planning to impose a 10% tariff on another $300 billion in imported Chinese goods, including consumer electronics. Apple would fall under that rather large umbrella, leading to a 4% hit to 2020 earnings per share. And we’d all end up paying for it, unless you happen to patronize one of the very few tech companies with no dealings in China (or those with exemptions).

Read more here: https://www.thestreet.com/video/trump-apple-tariff-exemptions-stock-impact-15177117