You are shopping for a new iPhone. It costs $999 today. China made the components. After Trump 100% tariff, what happens to the price and why?
Provide a brief explanation in your own words.
Explanation
The price rises significantly above $999. Apple pays the 100% tariff to U.S. Customs when iPhones enter the country. Apple passes this cost to consumers through higher retail prices. If the tariff app...
Related Questions
Trump announced 100% tariffs on Chinese goods. China controls 70% of global rare earth production. Who pays the tariff?
Easymultiple choiceChina controls 70% of global rare earth production and 90% of processing capacity. The U.S. military depends on Chinese rare earths for weapons systems.
Easytrue falseHours after announcing rare earth export controls, China announced new fees on U.S. ships docking at Chinese ports, mirroring U.S. fees on Chinese vessels.
Easytrue false
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