The US-China trade war has cost technology firms up to $ 10 billion

Tram Ho

If you are looking to buy any electronic device, always buy now and do not hesitate! The US-China economic war began to enter a new page last Sunday, and will directly affect users’ wallets. President Donald Trump’s government began taxing a lot of different goods imported from China.

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This means that technology companies that want to import TVs, speakers or drones from China will have to pay up to 15% tax to the US government. Bronwyn Flores, representative of the Consumer Technology Association (CTA), now consisting of 2000 different technology firms, said that this tax rate will probably be charged to the selling price before reaching consumers.

“You probably won’t see the price increase since Sunday, but this will happen starting in November on Dark Friday, so if you want to buy a TV to watch Super Bowl football then buy now. now!”

The actual tax order has been in place since the end of last year, and the cost of technology firms is up to $ 10 billion, but the new tax will affect consumers more because of the application of finished products. not just the same as before. Products that will be affected include smartwatches, sports bands, PCs, cameras and lithium batteries; with a total value of up to 52 billion USD.

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Even the leading US technology firms cannot avoid the new law. Its two thriving products, AirPods and Apple Watch, were also subject to a 15% tax on Sunday. Some of the other products that are also affected are the HomePod and iMac speakers. Wedbush analyst Dan Ives said: “Apple is currently living off Foxconn’s assembly and production system in China with 1.4 million employees. The new tax law could reduce its stock by 20 to 25. USD.”

Apple has done a lot in the past to not pay tax. In June, the company sent a letter to the government wanting to exempt its strength products, including iPhone, iPad, Mac, AirPods and Apple TV. According to JP Morgan, Apple will have to bear the cost after tax instead of raising the price of the product, estimated at about $ 500 million.

Not stopping there, in November this year there will be a new round of taxes on goods worth up to $ 115 billion, including smartphones, laptops, tablets and game consoles. According to the previous plan, two taxes will be combined into one, but President Donald Trump said that he had postponed some products before buying Christmas to not affect consumers.

Technology companies like Apple still have the opportunity to avoid taxes, which is to file a waiver with the government. But so far there is no exemption form for new taxes.

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Source : Trí Thức Trẻ