Tim Cook: Apple faces a $1.1 billion tariff bill this quarter
Apple is faced with high tariff costs during the current quarter, planning to reach $ 1.1 billion.
The CEO of the company, Tim Cook, shared the projections, on the basis of current prices and policies, with investors during a profit call on Thursday. The hike intervenes in the middle of a continuous trade war between China and the United States government.
India exceeds China in smartphones exports to us
During the quarter which ended in June, the prices cost 800 million dollars in Apple, which was actually lower than initially planned. “Most of the prices we paid were the ieepa [International Emergency Economic Powers Act] The prices that struck at the start of the year, linked to China, “said Cook, according to The Verge.
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“There are many factors that could change, including price rates,” continued the CEO.
In the past, President Donald Trump has specifically threatened Tim Cook and Apple with higher prices on iPhones, part of his pressure campaign to move iPhone production in the United States. Experts say that this is extremely unlikely to happen because the United States does not have the infrastructure to make flagship smartphones.
When calling on Thursday’s results, Cook also shared that the company establishes a “June-trimester income record”, with growth in its Mac and Mac services divisions. He said the results were “better than expected”.
As Mashable reported on Friday, despite economic uncertainty, a negative report on July jobs and the imminent threat of prices, technological companies like Apple, Meta and Reddit always report solid incomes this quarter.
