Trump says he’s ready to hit China with $267bn in additional tariffs

Eileen GuzmanSep 10, 2018

Apple Inc. said proposed USA tariffs on $200 billion worth of products imported from China will raise prices for some of its popular consumer goods such as the Apple Watch and AirPods headphones.

Even with US tariffs targeting $50 billion of Chinese exports in effect for their first full month in August, China's exports to the United States still accelerated, growing 13.2 percent from a year earlier from 11.2 percent in July. The US plan could take effect as soon as Friday, when a public comment period on the proposal ends.

In addition, the chip industry is a source of trade surplus for the United States, including with China, Intel argued.

The figures were well below July's performance, when exports had jumped 12.2 per cent and imports grew 27 per cent.

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

If both sets of tariffs go ahead it would mean virtually all of China's U.S. exports would be subject to new duties.

While Trump was waving his proverbial stick, Top White House economic advisor Larry Kudlow made a paltry attempt to offer something of a carrot on Friday, saying that the U.S. is up for talks and that there is "constant communication". The company makes a large percentage of its products in China.

Trump has been locked in a trade dispute with Beijing over China's policy of forcing USA companies to hand over trade secrets, as a price of doing business in China.

The president, speaking to reporters aboard Air Force Once, said he's in the middle of reshaping America's trade policy on a number of fronts, from Canada and Mexico nearby, to China, South Korea and Japan overseas. "Because all tariffs ultimately show up as a tax on USA consumers, they will increase the cost of Apple products that our customers have come to rely on in their daily lives".

"That totally changes the equation", Mr Trump said. Among the equipment hit were a number of components and devices used by U.S. tech firms, including chips and networking gear produced in Chinese factories. That's because the devices all use certain Chinese-manufactured electronic components that fall under the tariff list. Those talks will continue to go on. "As a result, tariffs will ultimately reduce the economic benefit we generate for the United States", the company writes. "We want lower (trade) barriers across the board", Kudlow said.

"Those have been our asks for many months and so far those asks have not been satisfied", he said.

Related Articles:



« Previous article
Next article »


Popular Pages

Eagles fans kick of 2018 National Football League season at Penn's Landing
Philadelphia captured their first Super Bowl title by defeating the New England Patriots 41-33 in February. His 11-yard TD run and 2-point conversion gave the Eagles a lead with 2:25 left.

Serena Williams fined $17,000 for violations during the US Open final
Eventually she returned to the baseline, serving out a game to love before Osaka held serve to win her first Grand Slam win. During Saturday's match, Williams was handed a coaching violation and a point penalty for breaking her racquet.

Trump lauds North Korea for keeping nukes out of military parade
The guide said Kim Jung Un "appreciates handsome women and wants North Korean women to be the most lovely of all". This gallery was curated by Associated Press photo editor Wally Santana in Bangkok.

Tropical Storm Florence takes aim at SC or Georgia coastline
Virginia joined North and SC in declaring a state of emergency ahead of the storm, which is expected to be a major hurricane. On Friday North Carolina declared a state of emergency , and other states along the East Coast are preparing for the storm.

Ex-Cowboys RB Randle arrested on rape charge
He gets hit with a felony aggravated battery charge a year later for an altercation he had with an inmate, the newspaper reported. In July 2015, Randle was put on six months of probation for stealing $123 worth of cologne and underwear from a Texas mall.

India's Supreme Court Strikes Down Colonial-Era Law on Gay Sex
Across the country, gay people gathered in front of their television sets, waiting anxiously for the verdict to be announced. It also hoped the ruling will be the first step towards guaranteeing the full range of fundamental rights to LGBTI persons.

Ian Wright: Paul Pogba needs to get on with playing
Could Paul Pogba be lining up alongside Lionel Messi in January? "We want the best players to be at Barcelona", he said. Also Marcus Rashford is stalling on discussing new terms at Manchester United .

Justice Dept. Should Investigate Op-Ed Writer as Matter of National Security
A stock that was selling for barely $11 in the days before Donald Trump was elected president is now hovering around $23 a share. Murphy and others argued the op-ed signals an important shift in Trump's presidency, even if it did not come as a surprise.

Packers Quarterback Carted Off Field Against Bears, Return Uncertain
Mack, less than a half into his Bears tenure, had just sauntered into the end zone after intercepting DeShone Kizer . Rodgers also missed seven games in 2013 after suffering a broken collarbone.

Nadal advances to US Open semi-final
Nadal moves forward to a clash with Juan Martin del Potro, who defeated John Isner, in a rematch of last year's semi-final. In the fifth, Nadal held three break points at 5-all, love-40, but Thiem took the next five points told serve.