Trump Presses Apple to Shift Production to U.S.

Trump Presses Apple to Shift Production to U.S.

Trump Presses Apple to Shift Production to U.S.

United States president Donald Trump said Friday that he was prepared to roll out tariffs on yet another $267 billion worth of Chinese goods even before his earlier proposed tariffs have gone into effect, the Wall Street Journal reports.

"It is hard to see how tariffs that hurt U.S. companies and U.S. consumers will advance the Government's objectives with respect to China's technology policies", Apple said in a letter to U.S. Trade Representative Robert LighthizerRobert (Bob) Emmet LighthizerMcConnell urges GOP senators to call Trump about tariffs Companies brace for trade war MORE.

Zhang said the impact from USA tariffs on China's exports would likely be limited over the next few months.

Update: On the $200 billion in tariffs, Trump said they could be soon depending on what happens.

But he told reporters traveling with him to Fargo, North Dakota that "behind that, there's another $267 billion ready to go on short notice if I want". "That totally changes the equation".

Stocks dipped after the comments, with the S&P500 off 0.2 percent.

The value of the Chinese yuan has dropped as the trade war with the United States has escalated.

White House Economic advisor Larry Kudlow told CNBC that talks between the USA and China were ongoing.

For the Trump administration, Friday began with sunny signs for the labor market before Trump's hawkish trade-war rhetoric clouded the outlook.

The US comment period on $200 billion of proposed tariffs ended yesterday.

"There is still an impact from front-loading of exports, but the main reason (for still-solid export growth) is strong growth in the USA economy", said Zhang Yi, an economist at Zhonghai Shengrong Capital Management.

The yuan sunk almost 9 percent against the US dollar from April through July, according to China's Wind Information data.

But, they'd also be hit by the threatened 267 billion dollar list.

The Trump administration has already slapped duties on US$50 billion of Chinese exports since July, which spurred immediate in-kind retaliation from Beijing. By 2021, based on International Monetary Fund economic forecasts, the US would lose about 1 percent of its annual output or about $230 billion while China would lose 0.6 percent of its $18 trillion economy that year or $110 billion.

"We will continue to talk to China". "Lower barriers, open markets, quit stealing IP and technology", he said, using an abbreviation for intellectual property. The company said on its website that it spent over $50 billion for goods purchased from US suppliers past year. "(Our) asks have not been satisfied", he said.

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