President Trump on Saturday responded to Apple’s letter concerning the impact the proposed tariffs on $200 billion worth of Chinese goods will have on the tech giant’s products suggesting there’s an “easy solution.”
Continue Reading Below
Apple, the world’s most valuable company, claims products including its Watch, AirPods headphones, HomePod smart speakers and Mac mini computers likely would be hit by the tariffs.
“Our concern with these tariffs is that the U.S. will be hardest hit, and that will result in lower U.S. growth and competitiveness and higher prices for U.S. consumers,” Apple wrote.
But President Trump proposed a solution on Twitter.
“Apple prices may increase because of the massive Tariffs we may be imposing on China - but there is an easy solution where there would be ZERO tax, and indeed a tax incentive,” he wrote. “Make your products in the United States instead of China.”
Apple prices may increase because of the massive Tariffs we may be imposing on China - but there is an easy solution where there would be ZERO tax, and indeed a tax incentive. Make your products in the United States instead of China. Start building new plants now. Exciting! #MAGA— Donald J. Trump (@realDonaldTrump) September 8, 2018
Trump is urging the Cupertino-based company to "start building new plants now."
On Wednesday, Apple warned in a letter to the U.S. trade representative that Apple’s competitiveness could be hurt, leading to higher prices for consumers.
“Tariffs increase the cost of our U.S. operations, divert our resources and disadvantage Apple foreign competitors,” the company said.
Apple's stock closed down 0.8% in Friday's session.