President Donald Trump rejected Apple Inc.’s bid to avoid tariffs on some computer parts it manufactures in China, saying the company should instead make the components in the US. The previous design had been built in Texas since 2013, making it the only major Apple product exclusively built in the US. An online comment posted by Bill Smith said Apple willingly elected to move production to China knowing that tariffs were in place. “If it does not want to pass the cost of tariffs onto the consumer, Apple can hold its prices constant." After the president threatened to impose tariffs on an additional $300 billion in Chinese goods, Apple said in a letter last month that they would affect nearly all major Apple products and reduce the company’s contribution to the economy.

Source: Mint July 26, 2019 16:18 UTC