Trump says consumers ‘could stand’ 10 percent tariff on iPhones
President Trump has told The Wall Street Journal he expects tariffs to be placed on all Chinese imports, including items like iPhones. This could boost the cost of an iPhone by 10 percent, a hike which Trump believes would not be a problem. “People could stand that very easily,” Trump told the Journal.
The news comes four days ahead of a summit between Trump and Chinese leader Xi Jinping. China’s top priority for the summit is to try to persuade the US to not implement a planned tariff increase that’s set to kick in on January 1st, which would raise existing tariffs on $200 billion worth of Chinese goods to 25 percent. Trump says Beijing’s request to hold off on this increase is “highly unlikely.”