Home / Headline / Apple Inc. says tariffs will reduce economic contribution to U.S. economy

Apple Inc. says tariffs will reduce economic contribution to U.S. economy

June 20, 201912:32 pm
By Staff Reuters

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Apple Inc said proposed U.S. tariffs on goods from China, including iPhones, iPads, and Macs, will reduce the company’s contributions to the U.S. economy and hurt its global competitiveness.

The U.S. government should not move ahead with a proposal to impose tariffs of up to 25% on another $300 billion worth of goods from China, the tech company said in comments posted on a government website on Thursday.

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Apple, which said the levies would also hit Airpods, AppleTVs and batteries and parts, is among the latest U.S. companies to press the Trump administration to abandon its plan for more tariffs.

Trade talks between the United States and China are resuming after more than a month of impasse. The countries’ leaders are expected to meet at the G20 in Japan next week. President Donald Trump had said he would consider placing tariffs on more Chinese goods after discussions fell apart in May.

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Apple is the largest U.S. corporate taxpayer to the U.S. treasury and pledged in 2018 its plans to directly contribute over $350 billion to the U.S. economy over five years, the filing said. In addition to reducing those contributions, Apple would take a hit because Chinese and other non-U.S. firms do not have a significant U.S. market presence.

“A U.S. tariff would, therefore, tilt the playing field in favor of our global competitors,” Apple said.

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© 2019 Reuters

Credit belongs to : www.globalnews.ca


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