With the holiday shopping season on the horizon, many companies and consumers have been worried about rising costs at a critical time of the year following President Trump's announcement earlier this month that the U.S. would impose additional 10% tariffs on $300 billion worth of Chinese goods starting on Sept. 1. The tweeter in chief has now partially acquiesced and agreed to delay some of the tariffs, sending Apple (NASDAQ: AAPL) shares higher. The U.S. Trade Representative (USTR) Robert Lighthizer announced this morning that certain products would be removed from the tariff list set to go into effect next month, which most notably includes a wide range of electronics and consumer gadgets -- popular gifts over the holidays. Trump said in July that Apple would not be granted any tariff waivers for Mac Pro parts coming out of China, following reports that the company is planning to move Mac Pro production from the U.S. to China.
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Aug 23, 2019