Apple's Stock Surges After U.S. Delays Additional 10% Import Tariff on Products Like Cell Phones and Laptops
Apple's stock has surged around five percent after the United States Trade Representative announced that an additional tariff of 10 percent on approximately $300 billion of Chinese imports will be delayed to December 15 for products such as cell phones, laptop computers, and monitors, per CNBC.
Moreover, the USTR said certain products are being removed from the tariff list based on "health, safety, national security and other factors" and will not be subject to the additional tariff of 10 percent whatsoever. It is unclear if this decision applies to any Apple products or accessories.
BREAKING: Stocks jump to session highs, Apple surges more than 4.5% after USTR removes items from China tariff list, delays some others including those on cell phones and laptops https://t.co/4gGcxyFOnV pic.twitter.com/AMmid6LZJY — CNBC Now (@CNBCnow) August 13, 2019
The USTR said it will provide additional details and lists of the tariff lines affected by this announcement on its website today.
The new tariff kicks in September 1 for the remaining Chinese imports impacted.
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