Will Trump's tariff make Apple's business easier in India?
Apple's stock has fallen by more than 7 percent after US President donald trump announced reciprocal tariffs in many countries of the world. This also includes the company's production units in china, india and Vietnam. iphone maker apple has not faced any difficulties in business till now, but now after Trump's order to impose tariffs, the road ahead may be difficult for the company.
apple growing rapidly in India
The company has shifted 10-15 percent of its iphone production to India. With this, india has now become a base for export of its products. trump has imposed a 27 percent retaliatory tariff on india on Wednesday. Foxconn and Tata Electronics provide iphone assembly to the company in India. Not only this, due to the Production Linked Incentive i.e. PLI scheme of the Central Government, apple has created a new record of production in India. With this, the export of iPhones made in india has also reached a record level.
Apple's business in china and vietnam too
It is believed that the company has also increased its supplier base in india to 64 as compared to the earlier 14 suppliers, which indicates the company's increasing scope towards assembling in India. trump has imposed a 34 percent tariff on the import of goods from china, this includes the 20 percent tariff imposed earlier. That is, in total, the US has imposed a 54 percent tariff on China. Whereas Apple's largest manufacturing unit is in china itself. The US has imposed a total tariff of 46 percent in Vietnam. Some of the company's AirPods, iPads, apple Watch and Macs are made here.
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