Trump threatens to cancel Putin meeting amid Russia-Ukraine tensions

28 November, 2018, 07:11 | Author: Sally Reid
  • Apple Stock Drops as Trump Discusses Potential iPhone Tariff

The Journal added that Trump said tariffs could also be implemented on iPhones, which are assembled in China.

You might recall that yesterday, we told you that President Donald Trump told The Wall Street Journal that he was considering imposing a tariff on mobile phones imported from China.

Tariffs on the $200bn of Chinese goods are due to rise to 25% from 10%.

The comments ran counter to recent speculation about a possible deal when Trump meets Chinese President Xi Jinping at the G20 summit in Buenos Aires later this week.

"The Chinese side is willing to resolve the trade issues [with the US] through serious dialogue that is based on the principles of equality and integrity", Geng said.

But Bernstein's Tony Sacconaghi said on CNBC that 25% of Apple's revenue could be hit with a 10% or 25% tariff.

As for China, the only "fair deal" would be for it to open the doors to USA competition.

Two killed in attack at Chinese consulate in Pakistan's Karachi
The attackers stormed the consulate shortly after 9 a.m., during business hours. "The gunmen had not entered the consulate". The spokesman for the Balochistan Liberation Army, Geand Baloch, told Reuters: "There were three suicide attackers".

Despite using contract manufacturers to make most of its products overseas, Apple has also sought to emphasize its contribution to the USA economy, saying it plans to spend about $55 billion in 2018 with its US -based suppliers.

Speaking to the Wall Street Journal, Trump said that the only deal he would take from China would be to open up to United States competition. Tiankai said that Washington's trade tensions with China, including numerous other countries, could lead to negative repercussions worldwide.

A Chinese official told reporters last week that the two leaders would look to set guidelines for future talks.

Stocks on Wall Street logged modest gains on Tuesday as traders remained hopeful that the United States and China can work toward resolving their trade-related differences at the upcoming G20 Summit.

Cui Tiankai, China's ambassador to the US, participates in the U.S. "It has become clear that the Trump administration does not want more promises, it wants action", said Shi Yinhong, an expert on Sino-US relations at Renmin University of China in Beijing.

"Trump's pessimistic view on the chances of a game-changing China trade deal may puncture global equity markets' optimistic start to the week", said Sean Callow, a senior FX analyst at Westpac in Sydney. In 2017, China accounted for 61.6% of electronics imports into the U.S., far exceeding South Korea's 4.5%, according to data from trade intelligence tracker PIERS.

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