This Sunday, 15% tariffs are due to kick in on the iPhone. That could raise the prices by as much as $150 per phone. But Chinese officials expect Trump to delay the import duties, granting Apple a temporary reprieve
U.S official source: “I’m expecting them to raise the tariffs on Sunday.”
Reuters, quoting unnamed source: "I'm expecting them to raise the tariffs on Sunday…The administration is preparing its talking points about how that's the right thing to do. The message is that it will not be painful."
Tariffs offer a potent weapon for countering unfair trade practices—but they also raise costs for local companies. So in the end, who pays for tariffs? @shannonkoneil breaks it down ⤵️
Trump is is threatening to use the emergency authority granted by a powerful, but obscure federal law to “order” U.S. businesses to cut ties in China after it announced plans to raise tariffs on $75 billion in U.S. imports.
Mayor Buttigieg: "We will all pay, on average, 800 bucks more a year, starting now, because of these tariffs. And by the way, a tariff is a tax, so if you don't believe Republicans raise taxes, that's what they're doing right now. " #PetePlaysHardball
I'm sorry, Mr. President, but you got this wrong. Tariffs are paid by American consumers. They raise the prices of many things we buy. They function exactly like taxes. So you have in effect raised taxes on most Americans. You have made Americans poorer.