iPhone and other smartphone imports from China hit lowest level since 2011

Customs data reveals that the import of iPhones and other smartphones into the US from China slumped to their lowest level since 2011. While the more extreme tariffs have been “paused,” a 20% tariff imposed in March remains in place, and that’s believed to be behind a $1.8B fall in the value of smartphones being moved from China to the US … 20% tariffs on iPhones At his most extreme, Trump announced tariffs of 145% on goods imported from China. He was later talked down, “pausing” these but retained a tariff of 20%. Apple told investors that this tariff would mean additional costs of around $900M in the current quarter. While the company has so far been absorbing these costs, it’s been reported that Apple is considering increasing iPhone 17 pricing over its original plans in order to protect its margins. Smartphone imports slump $1.8B Bloomberg reports official Chinese customs data revealing that smartphone exports to the US fell a massive $1.8B in April (compared to March). This ... Read full article.