Trump warns of tariffs on another $267 billion of Chinese imports

08 September, 2018, 22:44 | Author: Corey Lynch
  • The Trump administration is poised to impose 25 percent penalties this week on $200bn worth of Chinese goods

Meanwhile, the administration has reached a preliminary deal with Mexico to overhaul the North American Free Trade Agreement, and has been negotiating around the clock with Canada for a new three-nation pact.

The tariffs are top of mind for Apple chief executive Tim Cook, who has personally lobbied Trump for months on issues of taxes and trade, even dining with the president and first lady Melania Trump at the White House in August.

Intel Corp., the world's second-largest chip maker, weighed in supporting Apple's opposition to the tariffs and broadening the argument.

"China is moving lower in their economy". However, Chinese government advisers are tamping down expectations either occasion will yield measures that could defuse tensions.

Trump tweeted Saturday that "Apple prices may increase because of the massive Tariffs we may be imposing on China - but there is an easy solution where there would be ZERO tax, and indeed a tax incentive", if the company made its products in the USA instead of China. -China Business Council, said in a letter to members over the weekend.

Reuters and Associated Press contributed to this report.

Mr. Trump claims that China's trade policies are unfair, including the widespread practice of requiring foreign companies operating there to share intellectual property.

On Friday (September 8), Kudlow also told Bloomberg the administration would consider public comments before making a final call on the 200 billion list. To a certain extent it's going to be up to China.




It also said that every Apple product "contains parts or materials from the United States and is made with equipment from US-based suppliers". The company said on its website that it spent over $50 billion for goods purchased from US suppliers previous year.

Trump's now threatened tariffs on a total of 517 billion dollars in Chinese imports - a figure that eclipses the total amount of goods imported from China to the US a year ago. In January, the company also announced its "direct contribution" to the USA economy through investments and other spending would exceed $350 billion over the next five years, while it would establish a new Apple campus to house technical support for customers.

"The Soviet Union was pulled into an arms race in the Cold War. These profound lessons are close at hand", Long wrote.

"Risks have increased due to the negative impacts of China-U.S. trade friction". Some are shifting supply chains to avoid tariffs. And China has vowed to hit $60 billion in USA products in retaliation.

While no one predicted a sudden, sharp blow from USA tariffs, China's official export data has been surprisingly resilient so far, with growth exceeding analysts' expectations for five months in a row.

Instead of any grand gestures that would placate Washington but present domestic challenges for quick implementation, Wu said he expects Xi to reaffirm "that he has no intention to reverse" China's economic path. But Beijing is prepared to wait at least until the outcome of America's midterm elections for Congress on Nov 6. Some in Beijing appear to be hoping damage to his stature at home, including an ongoing investigation into Russian election meddling, could undermine his China agenda.

These have left China somewhat isolated, analysts say. "I'm being strong on China because I have to be".

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