Apple averts $150 bump in iPhone prices following Trump trade deal with China

Apple averts $150 bump in iPhone prices following Trump trade deal with China

President Donald Trump’s tentative trade deal with China, announced earlier today, has saved Apple from raising the prices, or eating those price hikes itself, of some of its most popular products, including the iPhone.

According to Bloomberg, which cites Wedbush Securities analyst Dan Ives, Apple’s top iPhone models could have been hit with a 15 percent tariff, which equates to a bump in price of around $150 for the base model iPhone 11 Pro, if the trade deal had not been reached. The tariffs were set to go into effect on December 15th and would have impacted the iPhone, the iPad, and the MacBook line, among other products.

“Trump delivered an early Christmas present to Apple,” Ives said in a note to investors obtained by Bloomberg....

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from The Verge