Economy

Trump fires back at Apple: Make your products in US

Trump fires back at Apple: Make your products in US

On Friday, Mr Trump said there could be US$267 billion more.

Both Apple and Intel are warning that President Trump's trade war with China will increase prices for consumer electronics, including the Apple Watch and AirPods. Earlier this year, the company said that as part of tax reform it would spend $350 billion in the United States over the next five years.

"Nobody has ever done what I've done", he said. "And the US$200 billion we're talking about could take place very soon, depending on what happens with them. To a certain extent, it's going to be up to China". And I hate to say this, but behind that is another $267 billion ready to go on short notice if I want. "That changes the equation".

The Chinese trade gap with the United States was up from July's $28 billion and June's $29 billion.

"I don't think this magnitude of tariffs has been priced into the markets", Ms Lara Rhame, chief U.S. economist at FS Investments, told Bloomberg Television.

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The U.S.'s ability to continue to dominate telecommunications technology, including the upcoming fifth-generation phone networks, will be hampered by the levy on imports from China. But, as the Guardian noted, Trump's tariffs are not working.

Chinese leaders have rejected pressure to scale back plans for state-led development of global champions in robotics and other technologies.

"It is hard to see how tariffs that hurt USA companies and US consumers will advance the Government's objectives with respect to China's technology policies".

White House economic adviser Larry Kudlow just hours before said talks with Beijing were continuing to try to defuse the conflict, and that he was hopeful that a solution could be found. It brought in about $6.1 billion in revenue a year ago, according to an estimate from analyst firm Bernstein. The Mac Mini, cables and adapters, chargers and even cases for laptops and mobile devices could be hit by the tariffs, the company said.

Chinese exports to the United States rose to US$44.4 billion in August, a 13.2 per cent increase from the same period previous year, according to customs data. Imports from the United States reached US$13.3 billion, a two per cent increase from the previous year. "Because all tariffs ultimately show up as a tax on US consumers, they will increase the cost of Apple products that our customers have come to rely on in their daily lives". But despite their opposition, more tariffs might be down the pipeline.


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