Trump warns of tariffs on another $267B imports from China

11 September, 2018, 01:10 | Author: Darnell Patrick
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Apple voiced its concerns about these tariffs in a public filing Friday, arguing that tariffs could make a wide range of products the company is selling to USA consumers more expensive.

President Donald Trump has upped the ante in the trade dispute with China, threatening now to impose tariffs on all Chinese goods entering the United States. That represents a small portion of Apple's $229 billion in overall sales. "Exciting!" Trump said in the tweet.

Apple has not responded to requests for comment.

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Trump said Friday that tariffs on China worth $200 billion would "will take place very soon depending on what happens". He said Apple would provide public comment after evaluating the proposal. And I hate to say this but, behind that, there's another US$267 billion ready to go on short notice, if I want.

Recent progress has been made in trade talks with Canada and Mexico, an important step to prevent Chinese exporters from sending goods to neighboring countries to skirt USA tariffs.

Apple was among several tech companies to submit comments regarding the proposed tariffs.

Tim Cook, the CEO at Apple previously had brushed off concerns over the tariffs, saying that he had spoken to Trump about them and remained confident that the tariffs would not reach the iPhone.


But businesses warn there are other ways China can strike back, through regulations and other administrative means.

It said some of the parts it relies on for product development, including processors and research equipment, would also be hit by the tariffs. Doing so would escalate a confrontation between the world's two biggest economies and likely squeeze USA companies that import everything from handbags to bicycle tires.

But while moving its manufacturing operations to the United States would allow it to skip the tariffs, Apple's products likely wouldn't be any cheaper. He has pointed to the large USA trade deficit - the gap between US imports and exports - with the People's Republic as a sign of that imbalance. The letter also made no mention of Apple's iPad, which brought in US$19.2 billion in sales in the most recent year, or most of its Mac computers, which generated US$25.8 billion.

Trump said he was not prepared to make a deal with China "that they'd like to make".

"We are puzzled as to why the Administration may be using tariffs in part to re-engineer global ICT (information, communication and technology) supply chains that have served U.S. companies so well". "The traditional method of calculating the U.S. trade balance attributes the entire value of our products to the country where final assembly is located, in most cases China".

"The first few rounds of tariffs hit supply chains really hard", said Mary Lovely, an economist at Syracuse University.

What Apple actually announced in January was to contribute $350 billion to the United States economy over the next five years that includes an estimated $55 billion investment in 2018.

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