Sanctions: Trump tells Apple to move production from China to US

08 September, 2018, 22:43 | Author: Sally Reid
  • A man walks past a screen at the Indonesia Stock Exchange building in Jakarta Indonesia

Trump upped the ante on Friday, warning he was ready to slap tariffs on almost all Chinese imports to the United States, threatening duties on another $267 billion of goods on top of $200 billion in imports primed for levies in coming days.

There was no indication in the comments made by Trump on Friday as to which items would be targeted in a future round of tariffs, as most seafood products imported from China already have been slapped with higher tariffs.

In addition to its Apple Watch and its wireless Air Pods, Apple (AAPL) said tariffs would affect the Apple Pencil, HomePod and MacMini, along with adapters, cables and chargers. To a certain extent its going to be up to China, Trump said.

But he told reporters traveling with him to Fargo, North Dakota that "behind that, there's another $267 billion ready to go on short notice if I want".

"That totally changes the equation", Trump said.

Stocks dipped after Trump's comments became public but recovered most of their losses.

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"The U.S.is moving higher", Lawrence Kudlow, director of the National Economic Council, said on CNBC.

Mr Trump had shown no sign of bending the previous day at a meeting with Republican congressional leaders, saying: "We have done very well in our negotiation with China, but we are not prepared to make the deal that they would like to make".

The Trump administration had indicated it was ready to move ahead with a next round of tariffs after the end of a public comment period, which finished at midnight in Washington on Thursday, but the timing is uncertain, people familiar with the administration's plans said.

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 US consumers more expensive. But Beijing will struggle to keep responding in kind as it imports less than Dollars 200 billion in United States goods per year.

But, they'd also be hit by the threatened 267 billion dollar list.

Trump's threatened tariffs, now totalling $US517 billion in Chinese goods, would exceed the $US505 billion in goods imported from China a year ago. And China has vowed to hit $60bn in USA products in retaliation. Those talks will continue to go on. Fitness tracker maker Fitbit said it would be hit by tariffs, and chipmaker Intel Corp said the levies could slow down the adoption of 5G networks, the next generation of wireless data technology for phones and other devices. Earlier this year, the company said that as part of tax reform it would spend $350 billion in the USA over the next five years. "However, hope springs eternal".

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