Apple Watch, FitBit could feel cost of USA tariffs

Apple Watch, FitBit could feel cost of USA tariffs

It's not exactly breaking news that the USA government has been imposing trade restrictions and tariffs over the last few months, but today we caught wind of the first new regulation that appears to affect watches directly. Apple's favourite press office, the New York Times, has reported that Trump told Apple CEO Tim Cook during a meeting in May that the U.S. government would not levy tariffs on iPhones assembled in China.

While laptops and smartphones have largely dodged the impact of the tariffs, U.S. Customs and Border Protection officials said a little-known subheading in the U.S. tariff code includes data transmission machines like fitness trackers and Bluetooth speakers, the news agency reported. If they go into effect in the fall, there could be a 10 percent tariff imposed on all those products.

The rulings name Apple's Watch, several Fitbit activity trackers and connected speakers from Sonos. However, Reuters highlights that Sonos touched upon this issue in its filing to become a publicly traded company earlier this month.

The New York Times has reported that Trump told Apple CEO Tim Cook during a meeting in May that the US government would not levy tariffs on iPhones assembled in China, citing a person familiar with the meeting. The three companies sell billions of dollars worth of products each year.

The $200 billion list is in a public comment period, and was proposed as a reaction to China's retaliatory tariffs after the trade war between the two nations escalates. Fitbit and Sonos alone made $2.6 billion in combined revenue previous year. And some of the products have been replaced by newer models that could be classified differently.

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