Trump intensifies trade war, threatens duties on nearly all imports from China

Trump intensifies trade war, threatens duties on nearly all imports from China

"Apple prices may increase because of the massive Tariffs we may be imposing on China", he said in an 11:45 a.m. tweet, while he was traveling in the presidential motorcade.

Apple laid out the impact on its products of the Trump administration's proposed tariffs on $200 billion worth of Chinese goods in an unsigned letter it submitted on Wednesday to US officials as part of a public comment period.

"The $200 billion we are talking about could take place very soon depending on what happens with them".

Then he added: "I hate to say this, but behind that there is another $267bn ready to go on short notice if I want". The company makes a large percentage of its products in China.

Stock prices slipped after his comments, with the S&P 500 off 0.2 percent, while China's off-shore trade yuan currency fell against the dollar.

On the $200 billion list are consumer products such as cameras, suitcases, tires and vacuum cleaners, which would see a tariff of 10% to 25% levied upon them.




Cook has, so it seems, changed his mind, and Trump threatened to impose another set of tariffs on top of a proposed $200 billion.

"Our concern with these tariffs is that the US will be hardest hit, and that will result in lower USA growth and competitiveness and higher prices for US consumers", Apple said in the letter.

In August 2018, the surplus was $31,05 billion, up from $28.09 billion in July.

According to Apple, the tariffs would affect the Apple Watch, AirPods, HomePod, Beats headphones, AirPort routers, Apple Pencil, Magic Mouse and Magic Keyboard, MacBooks, Mac mini, and a selection of cables, chargers, and adapters.

In a letter addressed to the Office of U.S. Trade Representative, the Cupertino company said: "It is hard to see how tariffs that hurt USA companies and United States consumers will advance the government's objectives with respect to China's technology policies". But, as the Guardian noted, Trump's tariffs are not working. The tariffs would pressure China to stop that behaviour, the administration has said. The company noted it spent $50 billion with 9,000 USA suppliers in its most recent fiscal year, including Texas-based chip firm Finisar Corp and Kentucky-based Corning Inc. "However, hope springs eternal".

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