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Apple Says New China Tariffs Would Boost Prices On Some Products (bloomberg.com)
An anonymous reader quotes a report from Bloomberg: Apple, the world's most valuable company, said proposed U.S. tariffs on $200 billion worth of products imported from China will raise prices for some of its popular consumer goods such as the Apple Watch and AirPods headphones. The Mac mini desktop computer, Apple Pencil stylus accessory for iPads, various chargers and adapters and tooling equipment used to manufacturer and design some products in the U.S. will also be affected, the Cupertino, California-based company told the Office of U.S. Trade Representative in a letter dated Sept 5.
The company said the tariffs would "show up as a tax on U.S. consumers" and "increase the cost of Apple products that our customers have come to rely on in their daily lives." Beyond the core products, Apple said accessories like the HomePod speaker, some Beats speakers, AirPort and Time Capsule internet routers, the Magic Mouse and Magic Trackpad, and leather cases for the iPhone, iPad, MacBook and Apple Pencil would be affected. It said some of the parts it relies on for product development, including processors and research equipment, would also be hit by the tariffs. On Friday, President Trump said he's prepared to impose tariffs on an additional $267 billion in Chinese imports, which would affect almost every category of consumer goods, according to analysts. He cites unfair trade practices as a reason for the tariffs.
The company said the tariffs would "show up as a tax on U.S. consumers" and "increase the cost of Apple products that our customers have come to rely on in their daily lives." Beyond the core products, Apple said accessories like the HomePod speaker, some Beats speakers, AirPort and Time Capsule internet routers, the Magic Mouse and Magic Trackpad, and leather cases for the iPhone, iPad, MacBook and Apple Pencil would be affected. It said some of the parts it relies on for product development, including processors and research equipment, would also be hit by the tariffs. On Friday, President Trump said he's prepared to impose tariffs on an additional $267 billion in Chinese imports, which would affect almost every category of consumer goods, according to analysts. He cites unfair trade practices as a reason for the tariffs.
I was going to say something similar.. The companies just pass the cost along to consumers who are the ones paying this. So, the last tax cuts significantly benefitted the most wealthiest in America with the average American seeing a very minor increase in take-home pay. Now, to pay for that tax cut (because it is really screwing the country over with a massive debt), a new tax is implemented via the tariffs which places the bulk of the onus upon the 99% of Americans who now lose their very minor increase in take-home pay AND lose even more of their pay to pay for the increased cost of goods. So, the tax burden was placed directly upon those who can least afford it. This isn't just Trump, it's the Republicans in Congress who allow, and and defend him. When the dust settles, they will all blame Trump but they should be held accountable for their tacit (and often explicit) support of all he has done and said.
And? Cut taxes $100, raise them $10. Net taxes, $90 lower.
Response to cuts: complaints about cuts — "people will die because taxes were cut!!!!”
Response to increases: complaints about increases.
Response to anything: complain about it, seek political advantage by spreading negativity and trying to divide people. (Then freak out when one of the groups you divided people into has more electoral votes than you expected.)
The companies just pass the cost along to consumers who are the ones paying this.
That's the point missed by most of the red-hat-wearing, "Build the wall! / Lock her up!" shouting crowd. Tariffs might not create/save any jobs, but it is with absolute certainty that tariffs will reduce the buying power of every dollar in your wallet.
I suppose they just don't teach this shit in schools anymore.
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DRM is like antifreeze, to the MPAA/RIAA it's sweet, to the consumers it's poison.