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With the agreement between the US and China, Apple has narrowly avoided a 15% tariff that would've gone into effect on December 15.
November's slower-than-expected retail growth signals the sector won't easily offset a weak manufacturing industry and prop up fourth-quarter GDP.
The tariffs were set to come into force on December 15 – one analyst told Business Insider they would likely have reduced iPhone demand by 6% to 8%.
An initial US-China trade pact had been announced in October but was not signed and has not yet been put to paper.
Apple "has the most to lose" if the new tariffs take hold, the analyst said, as the duties will either harm 2020 profits or consumers' iPhone demand.
President Donald Trump can kiss his dream of an ambitious trade deal with China goodbye, thanks to two bills Congress passed to uphold human rights.
Trump’s trade wars were supposed to rescue US manufacturing and agriculture. But his policies have made them significantly worse.
Trump is back as "Tariff Man" as he ramps up the trade war to shore up manufacturing and agriculture. But his combative approach is hurting them.
Bloomberg reported that the US and China are close to an agreement on the specifics of tariff relief before they are set to rise on December 15.
Wine, cheese, makeup, and handbags: Here are all of the French products the Trump administration could hit with tariffs of up to 100%
The steep tariffs would cover household products ranging from French food and alcohol to luxury items.
Commerce Secretary Wilbur Ross supports delaying a trade deal until after the 2020 election, saying it eliminates an advantage for China
Ross noted that the US can weather the trade-war storm, and that Trump is "perfectly happy to continue with the tariffs as we have."