On Thursday, the 31st of October 2019, the Cupertino, CA-based iPhone manufacturer and a multinational technology conglomerate, Apple Inc., had urged US President Donald Trump’s administration to lift tariffs on China-made iPhone parts, Apple Watches alongside other consumer products, a company filing with the office of USTR (US Trade Representative) of Robert Lighthizer, had revealed on Friday (November 1st).
In point of fact, Apple Inc., the highest tax-paying company in the United States, had been seeking an exclusion of 15 per cent tariff hikes on its China-made imports which took effect on September 1st. Besides, according to Apple Inc.’s Thursday’s (October 31st) filing with the USTR’s office, the iPhone maker had been exploring an option to avert tariff on imports of a total of eleven China-made products including iMac computers, HomePod Speakers, iPhone repairing parts, AirPods, iPhone smart battery case alongside other consumer goods saying, “The products were consumer electronic devices and not strategically important or related to ‘Made in China 2025’ or other Chinese industrial programs,” while the office of USTR has until November 14th to comment over the Apple Inc.
request. More importantly, Apple’s wearable and accessory businesses accountable for roughly 10 per cent of the tech conglomerate’s entire quarterly revenue during Q3, 2019, generated about $24.5 billion in its fiscal year that ended on September, while an exclusion of 15 per cent tariff hike on Apple Inc.’s China-made wearable and accessory products ahead of a holiday quarter sales would help Apple Inc. reach its full-year profit projection set for fiscal year 2020.