The United States and China could have managed to reach a trade agreement.
After almost a year of negotiations and threats of tax hikes, it seems that relations between Washington and Beijing have calmed down. US, China reportedly found teeth, reports Bloomberg. Good news for many companies that export products or parts produced in China, including Apple.
Indeed, for months, the threat of an increase in customs fees has loomed over the heads of the iPhone, Mac and other apple products whose parts are produced in China. The famous Trump Tax could have increased the price of these products by 15%, or $ 150 in the case of the iPhone. A rise in prices that could have seriously damaged the business of Apple and other American companies.
After months of negotiations, both between China and the United States, but also a mobilization of Tim Cook, the CEO of Apple, who has spoken numerous times with the American president, the iPhone and other apple products will not be impacted by this tax.
Only a few days before the entry into force of this famous Trump Tax which was to be applied from December 15, 2019, Donal Trump would have signed a partial trade agreement with China. The US President is expected to make a statement on the subject very soon.
Getting VERY close to a BIG DEAL with China. They want it, and so do we!
– Donald J. Trump (@realDonaldTrump) December 12, 2019
This would be Phase 1 of the trade agreement found between the two parties. An agreement that includes a promise from Pkin to buy more American agricultural products.
The legal text has not yet been finalized. Hopefully President Trump does not change his mind, as he has done in the past.