If you were thinking about picking up an Apple Watch, AirPods, or the HomePod, you might want to get it quickly. This is because a new set of tariffs introduced by the Trump administration will be tacking on a 10% import tax on wearables and smart speakers, which covers these Apple products.
The new taxes are expected to come into effect on September 1st, but we don’t know how Apple will be responding to this. The company has yet to confirm what they plan to do should these taxes go into effect, although it is unrealistic to expect that Apple will shoulder the entire costs. They are a company after profits after all, and it wouldn’t make sense for them to foot the bill. They will pass the cost onto the consumer.
However, when Apple experienced a 10% import tax hike that affected its chargers, the company and its suppliers chose to absorb the difference in price, so hopefully, they’ll do the same with these new tariffs as well. Apple had previously released a statement in response to the initial proposal of tariffs, saying, “It is difficult to see how tariffs that hurt U.S. companies and U.S. consumers will advance the Government’s objectives with respect to China’s technology policies.”