Vietnam may be the next destination of Apple manufacturers if the US government applies the 25 per cent tax rate on its products, which are mainly manufactured in China. Apple is mulling over plans to move production out of China (Source: AFP) US President Donald Trump more than two weeks ago warned to levy 10-25 per cent tax on the leading global tech firm’s best-selling products. This latest move in the US-China trade war is a serious threat to the firm, according to Bloomberg. The US newswire also stated that Apple currently has no plans to remove its facilities from China. If Trump applies 10 per cent tariffs on the firm, it will keep running the facilities in China despite a significant impact. However, if the tariffs mount to 25 per cent, Apple may consider relocating facilities. With the 10 per cent tax rate, Apple may suffer a $1 reduction in earnings per share. This loss would be $2.5 at a 25 per cent rate if Apple keeps running facilities in China. If the tech firm’s plans come true, Southeast Asian countries, including Vietnam, is supposed to be its leading option to replace Chinese production. In fact, over the past… Read full this story
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