Customs duties can increase company costs of 1.1 billion dollars in the September quarter. Apple has already spent nearly $ 800 million in the June quarter.
Apple has a significant cost because of the duties introduced by US President Donald Trump. Verge reported it.
According to Apple General Tim Cook, the duties can add $ 1.1 billion to the company’s costs in the quarter. He noted that Apple has spent nearly $ 800 million in the June quarter. This is less than $ 900 million that the company has in May.
Most of the duties we paid for were the duties of IEEPA (the International Law in the extraordinary economic plenipotions), introduced at the beginning of the year and touched China, Cook said.
It is also noted that Trump’s duties affect all apple devices mainly performed in China, India and Vietnam. Cook said the “main” iPhone sold in the United States was made in India, and most Mac, iPad and Apple Watch were in Vietnam.
The US president threatens to apply even higher duties to Apple if the company does not move part of doing it in states.
Remember, Apple filed an appeal for a fine of € 500 million, imposed by the European Commission for violating EU policies for App Store work.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.