Trump tells Apple to move plants from China to US

Cheryl Sanders
September 10, 2018

"And I hate to say this, but behind that is another $267 billion ready to go on short notice if I want".

If the administration moved ahead, it would more than cover the entire value of goods imports from China, according to USA government data from previous year.

Chinese exports to the United States rose to $44.4 billion in August, a 13.2 percent increase from the same period previous year, according to customs data.

The United States has demanded that China better protect American intellectual property, cut its US trade surplus, allow USA companies greater access to its markets and roll back its high-technology industrial subsidy programs.

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 USA a year ago.

In an interview with Bloomberg, White House economic adviser Larry Kudlow suggested that President Trump would be willing to meet with China's Xi Jinping, and possibly discuss de-escalating the trade war.

China said it is ready to impose retaliatory tariffs on $60bn worth of United States goods if that happens.

Trump said he was not prepared to make a deal with China "that they'd like to make".

Last night Apple warned that the threatened tariffs would hit "a wide range of Apple..."

Such a perspective echoes sentiments Trump offered as his administration levied duties on $50 billion in imports from China this summer.

"In the short term, it is hard for the trade gap to narrow because American buyers can not easily find alternatives to Chinese products", Bank of Communications Economist Liu Xuezhi told the Wall Street Journal.

President Trump's latest list of proposed tariffs on products manufactured in China would have a negative impact on some of Apple's most popular products.

"Our view on tariffs is that they show up as a tax on the consumer and wind up resulting in lower economic growth", Tim told investors last month.

‪"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", he wrote.

"The Chinese aren't paying these tariffs, American families are going to pay these tariffs".

Shares of Apple closed down 0.8 percent in regular Nasdaq trade on Friday, and slipped another 1 percent in extended trading. It has announced a $60 billion list of American products targeted for retaliation.

The administration's "America First" policies have left the United States embroiled in tit-for-tat tariffs with the European Union, Canada and Mexico as well as an escalating trade war with China. USA stocks erased gains after Trump's remarks.

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