News Summary

• Apple and/or its customers were facing billions of dollars a year in additional costs after increases to US tariffs on Chinese imports imposed by the Trump administration earlier this year.
• The company had initially absorbed these costs, but it was unclear how long that might last, with future price rises seeming likely.
• There’s some good news today, however, with Trump halving the additional tariffs imposed after meeting with China's President Xi.
• Additional tariff increases that were scheduled to come into effect shortly have also been suspended.