U.S. trade regulators approve tariff exemption for Apple Watches

U.S. trade regulators approve tariff exemption for Apple Watches

US trade regulators have approved Apple Inc’s request to waive tariffs on Apple Watches from China, the US trade representative’s office said in a letter from Friday. The iPhone maker had filed for exclusion in October, requesting relief from the US rates of 15% that went into effect on September 1.

Apple & # 39; s wearables and accessories business, including Apple Watch, AirPods and HomePod, completed in the fiscal year ending Sept. 2019 sales of $ 24.5 billion, accounting for approximately 9.4% of total sales. The company’s shares last fell 2.3% to $ 223.89. The stock recovered some losses after a Nikkei report said iPhone assembler Foxconn had gathered enough workers to meet “seasonal demand” in all major Chinese factories.

(This story has not been edited by staff and is automatically generated from a syndicated feed.)

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