Plus one thing that was never really mentioned during the tariff bs where many American republicans demonstrated a total lack of understanding of what tariffs are and how they work is:
The fact that, yes, China makes iPhones and America has to import them. However that completely ignores the fact that China is making iPhones for _Apple_ and that whilst I'm sure the Chinese factories make a little profit, Apple's is making much much more on their huge mark up when selling iPhones across the world.
Of course those iPhones are imported directly from China to place of sale, say the UK. But who sees the profit? An American company. _Even though_ those imports would not have counted against America's exports specifically as far as I'm aware.
Follow up: and Trump again today with the 'The president also threatened to impose a 25% import tax "at least" on iPhones not manufactured in America.'
Lmao the profit from Chinese companies (or India, etc) manufacturing the iPhone is so, so much less than the profit that Apple makes selling the iPhone.
Honestly just ridiculous. I was hoping he'd stick with the insane tariffs so I could watch Americans mob & oust him. But he's backpedaled as he is wont to do, the absolute cretin.
The fact that, yes, China makes iPhones and America has to import them. However that completely ignores the fact that China is making iPhones for _Apple_ and that whilst I'm sure the Chinese factories make a little profit, Apple's is making much much more on their huge mark up when selling iPhones across the world.
Of course those iPhones are imported directly from China to place of sale, say the UK. But who sees the profit? An American company. _Even though_ those imports would not have counted against America's exports specifically as far as I'm aware.