Trump tells Apple to make products in US to avoid China tariffs

Daniel Fowler
September 11, 2018

And then he went further, saying he's also ready to hit another 267 billion worth of imports right after.

The US has imposed $50 billion worth of tariffs on Chinese goods with another $200 billion in the final stages. "They will turn to other non-tariff measures", he added.

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".

Shares of Apple closed down 0.8 percent in regular Nasdaq trade on Friday, and slipped another 1 percent in extended trading.

Global businesses were on the edge of their seats Friday morning, as the comment period closed Thursday on duties on $200 billion worth of imports to the US from China.

In a letter addressed to the Office of U.S. Trade Representative, the Cupertino company said: "It is hard to see how tariffs that hurt USA companies and United States consumers will advance the government's objectives with respect to China's technology policies".

It's not clear why the president cited the specific figure he used.

A message left with Apple's press office seeking comment on Trump's remarks was not immediately returned. Trump has had Beijing in his crosshairs since he took office, and has applied increasing pressure to try to convince the country to change its policies, allow more imports and reduce the $335 billion U.S. trade deficit. If that pace continued for the remainder of this year, Chinese imports would top $548 billion - leaving Trump a bit short of complete coverage of Chinese goods.

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Mobile phones aren't amongst the products, but they would be captured if Trump puts into effect the $267 billion list he warned about. Many products purchased by consumers, such as refrigerators, spark plugs and furniture, are among the potential targets.

President Donald Trump's trade policy faces a key crossroads on Thursday, as officials continue efforts to reach a deal with Canada, and he will decide whether to impose a huge wave of new tariffs on China. China has not yet responded to this latest announced round of tariffs. US stocks erased gains after Trump's remarks.

Here's the scorecard on Trump's trade war with China.

While China's trade surplus with the United States grew again, it remained stable with the rest of the world at $27.9 billion in August.

U.S. President Donald Trump walks to Marine One while departing the White House in Washington, U.S., September 6, 2018. Imports rose 20.9 percent to $189.5 billion, down from 21 percent.

"China is moving lower in their economy".

Kudlow, who heads the National Economic Council, told CNBC the administration was still talking with China about trade issues but so far China had not met US requests. "U.S. businesses and citizens-not Chinese companies or the government-pay these tariffs on USA imports". Beijing reported a record $275.8 billion trade surplus with the United States a year ago. The strong performance of markets over the past few months "keeps getting disrupted by news on trade" and "it's just another indication we're not out of the woods yet", she said. China has warned that it would retaliate with import taxes on $60 billion worth of US goods. China has retaliated on both occasions with tariffs on the equivalent value of USA goods.

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