US tariffs could send iPhone prices soaring, spark consumer backlash

The Manila Times

US tariffs could send iPhone prices soaring, spark consumer backlash  Shoppers outside Apple’s Fifth Avenue store in Manhattan were stunned by the prospect of paying more than $2,000 — or even $3,500 — for an iPhone, after sweeping new tariffs imposed by US President Donald Trump sent shockwaves through the tech industry.  The tariffs, including a 54 percent levy on Chinese goods, could force Apple to raise prices significantly or absorb massive costs, analysts say.   REUTERS VIDEO  Subscribe to The Manila Times Channel - https://tmt.ph/YTSubscribe   Visit our website at https://www.manilatimes.net   Follow us:  Facebook - https://tmt.ph/facebook  Instagram - https://tmt.ph/instagram  Twitter - https://tmt.ph/twitter  DailyMotion - https://tmt.ph/dailymotion   Subscribe to our Digital Edition - https://tmt.ph/digital   Check out our Podcasts:  Spotify - https://tmt.ph/spotify  Apple Podcasts - https://tmt.ph/applepodcasts  Amazon Music - https://tmt.ph/amazonmusic  Deezer: https://tmt.ph/deezer  Tune In: https://tmt.ph/tunein  #TheManilaTimes #worldnews  #iphone

Transcript

00:00To build a factory, it takes four to five years in the US.

00:14We don't even have the infrastructure and the employer base to actually build factories

00:20here when it comes to tech fabs and others.

00:23If you like $3,500 iPhones, we should build them in the US.

00:26If you like $1,000 iPhones, you build them in China.

00:30If you like $400 sneakers, we should Nike, we should build them here.

00:34If you like $100 sneakers, you build them in Vietnam.

00:37That's the reality and that's why this continues to be the most absurd thing probably ever

00:42seen on Wall Street in many, many, many decades.

00:46The tariff itself would move it to $2,000.

00:50If iPhones were made in the US, we estimate it would cost $3,500 and now it takes seven

00:57to eight years to actually happen.

00:58My iPhone's about three years old, so it's good for another two years, but no, I would

01:03not pay $2,300 for an iPhone.

01:05You just have to weather the storm, as he said, as we believe, and we'll make adjustments

01:11and move forward.

01:12It's for the good of the common man in our country.

01:15Think about the billions of dollars that go to foreign markets that never come back

01:20our way.

01:21Yeah, I think it's time for a change.

01:22I voted for him, and I hope we have 12 more years of the Republican Party in office.

01:29Country's going to be safe again, economy's going to boom again, and foreign dictators

01:33fear Trump.

01:34That means they fear America.

01:36That's what our founding fathers fought for, the land of the free.

01:41Look at the statue that's erected at the park over there.

01:45I walked by the park and I thought, man, 10 years ago they'd be ripping the statues down,

01:49right?

01:50Of our heroes that founded this great country.

01:53So I'm all for it, I believe in America, and I think we're in great shape.

01:58I would not pay $2,300 for an iPhone, for the newest iPhone, for any reason.

02:03No.

02:04Tariffs are absolutely a mess, and I, as a person who's struggling in this economy and

02:09especially now losing more jobs in a thing that clearly he doesn't value as a human,

02:15and nor does his administration, and he obviously doesn't care about how the lower class economy

02:22is, like people who don't make as much of an income year to year, or people who work

02:26freelance gigs like me can afford the way that it's going to increase prices of regular

02:30goods.

02:31I just think it's very stupid.

02:34I don't know, I'm from Mexico originally, and it's just put a lot of stress in the whole

02:42world.

02:43I don't know, everyone is stressed about it.

02:46It just feels unnecessary.

02:49I'm from Europe, so it feels definitely crazy and exaggerating, but also I agree that every

03:00day there is news about something stupid, truncated, so...

03:04It just feels like a stunt, like a publicity stunt for any reason.

03:30I don't know.

03:31I don't know.

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