Apple and other consumer electronics manufacturers who rely on China to make their products just got an early holiday present from the Trump administration in the form of a delay on some tariffs until mid-December.
The tariffs in question were set to go into effect on September 1st, a date that coincides with Apple’s plans to release the latest version of the popular iPhone, just in time for the holiday shopping season.
Speaking to reporters on an airport tarmac Tuesday afternoon, the President said, “We’re doing this for the Christmas season, just in case some of the tariffs would have an impact on U.S. customers. But so far they’ve had virtually none, but just in case they might have an impact on people, what we’ve done is we’ve delayed it so that they won’t be relevant to the Christmas shopping season.”
The official statement from the United States Trade Representative (USTR) read “certain products are being removed from the tariff list based on health, safety, national security, and other factors and will not face additional tariffs of 10 percent.”
When the tariffs were announced back in June, Apple indicated that they could affect the price of their products. The Trump administration said that their will be no waiver given to Apple or other manufacturers who produce consumer electronics in China, instead saying “Make them in USA, no Tariffs!”
Apple stock jumped 5% on the news of the delayed tariffs Tuesday.