Trump's China tariffs will hit our products hard: Apple

11 September, 2018, 01:12 | Author: Sheri Evans
  • Trump signals escalation of trade war with China, says he has tariffs ready on another $267-billion of imports

The proposed tariffs follow 25% duties the Trump administration already has placed on $50 billion in goods from China, aimed at putting a stop to what the White House has said is China's theft of USA intellectual property, the forced transfer of American technology and cyberattacks on US computer networks.

The US-China trade spat escalated on July 6 when US President Donald Trump slapped tariffs on USD 34 billion in Chinese goods, triggering a dollar-for-dollar response from Beijing.

Trump told reporters Friday that his administration was days away from imposing a new round of tariffs on imports worth $200 billion, and that it could follow up with another round of tariffs on goods worth an additional $267 billion.

The US has imposed $50 billion worth of tariffs on Chinese goods with another $200 billion in the final stages.

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Cell phones, the biggest USA import from China, have so far been spared, but would be hit if Trump activates the new $267 billion tariff list.

"That totally changes the equation", Trump said. It makes many of its products for the U.S. market in China, and it also sells gadgets including the iPhone in China, making them a potential target for Chinese retaliation against the Trump tariffs.

Dell, Cisco, Juniper Networks and Hewlett Packard Enterprise wrote a joint letter to the U.S. Trade Representative seeking an exemption from $200 billion in new tariffs.

The Commerce Ministry expressed confidence Thursday that China can maintain "steady and healthy" economic growth despite the trade pressure.

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Responding to this, Trump said that the company could avoid Chinese import tariffs by switching production to the US.

"In January 2017, Trump said he spoke to Apple CEO Tim Cook over the phone and he promised to build "three big plants" in the US".

China's trade surplus with the United States widened to a record $31 billion in August as exports surged despite American tariff hikes, potentially adding fuel to President Donald Trump's battle with Beijing over industrial policy. But 2018 imports from China through July were up almost 9 percent over the same period of 2017, according to U.S. Census Bureau data. "More broadly, tariffs will lead to higher USA consumer prices, lower overall US economic growth, and other unintended economic consequences".

"It is hard to see how tariffs that hurt US companies and USA consumers will advance the Government's objectives with respect to China's technology policies". But David French, top lobbyist for the National Retail Federation, whose members include Amazon.com, BJ's Wholesale Club and Macy's, said almost every consumer good could be affected if Trump follows through on all threatened tariffs. "Now, they've got to treat us fairly". "The U.S.is moving higher", Lawrence Kudlow, director of the National Economic Council, said on CNBC. That would mean penalties cover nearly all goods from China sold to the United States. "The notion that the president is going to add an extra $267 billion worth of tariffs is grossly irresponsible and possibly illegal", said Jose Castaneda, spokesman for the Information Technology Industry Council, which argues that the tariffs are not permitted under US trade law.

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