Apple, Samsung may take India route for exports to beat US' wall of tariffs against China: Report
Trump announced a 34 percent tariff on Chinese goods, over and above the earlier duties, and 26 percent on goods shipped from India
Apple, which is the world’s biggest electronic seller, has started ramping up its production in India to export iPhones to the US
Electronics giants Apple and Samsung may have found a way to beat US President Donald Trump’s tariff blitz and it runs through India.
While announcing tariffs against US' rivals and allies alike last week, Trump slapped an additional 34 percent duty on Chinese goods, which includes smartphones manufactured by Apple and Samsung. The new duties imposed on Beijing's exports are over and above 20 percent imposed earlier, effectively taking the total tariff to a whopping 54 percent.
To cushion the impact of the duties, the two top phone manufacturers are planning to adopt a make-in-India approach, as Trump has levied a 26 percent tariff on New Delhi’s exports, comparatively lower than its Asian peers including Vietnam and China, the Times of India said on April 7.
Apple, which is the world’s biggest electronics seller, has started ramping up its production in India to export iPhones to the US and has plans to cut its shipments from China, TOI said in its report.
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