WASHINGTON, March 24 ― US trade regulators have approved Apple Inc's request to waive tariffs on China-made Apple Watches, the Office of the United States Trade Representative said in a letter dated Friday.
The iPhone maker had requested for an exclusion in October, seeking relief from US tariffs of 15 per cent that took effect on September 1.
Apple's wearables and accessories business, which includes Apple Watch, AirPods and HomePod, raked in revenue of US$24.5 billion (RM108.5 billion) in its fiscal year ended September 2019, accounting for about 9.4 per cent of its total sales.
Shares of the company were last down 2.3 per cent at US$223.89. The stock pared some losses after a Nikkei report said iPhone assembler Foxconn had secured enough workers to meet “seasonal demand” at all major Chinese plants. ― Reuters
