Saturday, 20 October, 2018

Trump fires back at Apple: Make your products in US

Trump says he’s ready to hit China with $267bn in additional tariffs Brian Cahn Global Look Press
Orlando Vargas | 10 September, 2018, 08:24

While the White House says they are still deliberating on the details of adding US$200 billion in Chinese imports to a list of tariff targets, President Trump said Friday that there is more where that came from.

The President is banking on the strong U.S. economy - with unemployment at record lows - to take the edge off the damage to the USA itself in the face of a trade war. "[It] could take place very soon depending on them-to a certain extent it depends on China".

"That totally changes the equation", Mr Trump said.

Tech companies are also weighing in, with HPE, Cisco, Dell, and Juniper penning a letter to US Trade Rep Robert Lighthizer asking him to hold off on imposing additional tariffs on networking gear, arguing the penalties would only serve to hurt their business in the US.

Retailers had successfully kept high-profile consumer electronics such as mobile phones and television sets off of previous tariff lists.

The company told trade officials in a letter on Friday that the proposed tariffs would affect prices for a "wide range" of Apple products, including its watch.

Mr Trump imposed customs duties of up to 25 per cent on US$34 billion worth of Chinese goods in July, and on another US$16 billion in August, triggering swift tit-for-tat responses from Beijing.

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On Wednesday, Apple warned in a letter to the USA trade representative that Apple's competitiveness could be hurt, leading to higher prices for consumers.

Apple continued that the tariff list "covers a wide range of Apple products and the products used in our USA operations".

Many Apple accessories, such as mice, keyboards, chargers and even leather covers for iPhones and iPads would face tariffs, Apple said. The US imported $505 billion of goods from China last year and the figure is expected to rise this year.

Apple, like other tech giants, has benefited from the last year's overhaul to the US tax code, and the company has committed to returning much of the $252 billion in cash it held overseas.

Those steps include slapping tariffs on $60 billion of USA imports, Gao said. Those talks will continue to go on. "We want lower (trade) barriers across the board". "As a result, tariffs will ultimately reduce the economic benefit we generate for the United States", the company writes.

"Those have been our asks for many months and so far those asks have not been satisfied", he said.

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