Apple: China Tariffs by Trump Will Hurt Company

11 September, 2018, 12:18 | Author: Orlando Hughes
  • Getty Images

China's trade surplus with the United States widened to a record in August even as the country's export growth slowed slightly, an outcome that could push President Donald Trump to turn up the heat on Beijing in their cantankerous trade dispute.

Trump's announcement came the day after the public comment period closed on tariffs on $200 billion of Chinese imports.

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", Trump said.

A "wide range" of Apple Inc AAPL.O products including the Apple Watch would be affected by proposed USA tariffs on Chinese goods, the company told US trade officials, but gave no sign of an impact on its iPhone cash cow.

The tariffs are meant to punish China for what the Trump administration says are unfair trading practices, including the forced transfer of intellectual property from US companies trying to get a foothold in the Chinese market. The U.S. imported US$505 billion of Chinese products in 2017, Census Bureau figures show.

In addition, the tariffs will also raise the costs to run Apple's manufacturing and product fix facilities in the United States by placing duties on logic boards, microprocessing units, and other electronic equipment, the company said.

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.

Papadopoulos sentenced to 14 days in Mueller probe
More accurately, Papadopoulos hemmed and hawed, and finally settled on, "I might have, but I have no recollection of doing so". Papadopoulos. "The message is for all of us to check our loyalty, to tell the truth, to help the good guys", Breen said.

"The imposition of additional duties on the raw materials and chemicals used by Rockland will exacerbate the injury inflicted by China's unfair practices and will cause disproportionate economic harm to Rockland", Berman said during the hearing. "If the US$200 billion tariffs are imposed, American consumers will see that prices of consumer goods increase significantly", he said.

An impending tariff threat on China is keeping investors on edge.

That would cover virtually all the goods imported from the world's second largest economy.

"If we could put the tariff on the finished product coming from China - not the raw materials that we can't get from anywhere else - that would increase manufacturing here in the USA and our market share", Berman said.

US-China trade row: What has happened so far?

At the same time, Apple is already using components sourced from USA manufacturers in some of its products. It has announced a $60 billion list of American products targeted for retaliation.

Four major US tech companies have written to the US Trade Representative (USTR) asking for protection from the proposed third round of Trump tariffs. Doing so would escalate a confrontation between the world's two biggest economies and likely squeeze USA companies that import everything from handbags to bicycle tires.

Recommended:

  • Florence to become powerful hurricane Monday

    Florence to become powerful hurricane Monday

    As of noon Tuesday, the storm was about 1,230 miles southeast of the Cape Fear region, according to the National Weather Service. The storm is forecast to continue towards the United States, and approach the southeastern coast by Thursday.
    Tiger Woods finishes sixth at BMW Championship, qualifies for 2019 US Open

    Tiger Woods finishes sixth at BMW Championship, qualifies for 2019 US Open

    It's tough to go from being on Ryder Cup teams, being on Presidents Cup teams, to outside the top 100 in the world. He had his fourth back surgery last April, and at this time past year he had just been cleared to chip and putt.
    Hurricane Florence weakens to a Category 2 storm | Caribbean

    Hurricane Florence weakens to a Category 2 storm | Caribbean

    Hubbard said so far this year, the Atlantic season has been fairly average, but it's been busier in the Pacific. East Coast from Florence next week has increased, the Miami-based weather forecaster added.
  • Aaron Rodgers: 'I'm Playing Next Week'

    Aaron Rodgers: 'I'm Playing Next Week'

    His night was presumed over, but Rodgers returned after halftime and led Green Bay to an improbable comeback win. Quelle bombe pour Geronimo Allison et le TD! Regardless, Zimmer remains one of the best characters in the NFL.
    Australian Open director wants coaching rule ‘sorted out’

    Australian Open director wants coaching rule ‘sorted out’

    Open tennis tournament at the USTA Billie Jean King National Tennis Center, Saturday, Sept. 8, 2018, in NY . When Osaka was announced the victor , the audience booed her, but Williams came to her defense.
    Kevin Feige Gives Even MORE Details About CAPTAIN MARVEL

    Kevin Feige Gives Even MORE Details About CAPTAIN MARVEL

    In the comics, Mar-Vell is responsible for Carol Danvers getting her powers, but what they do in the MCU remains to be seen. "I don't know that he ever gave me any advice, but he obviously had a great time making these", Jude Law said.
  • Cantona: Guardiola should be Manchester United manager

    Cantona: Guardiola should be Manchester United manager

    Pogba had a bust-up with Mourinho in February and was named on the bench for a number of crunch fixtures last term. Pogba has played four matches this season for United, scoring twice.
    Gov. Ige signs an emergency proclamation in anticipation of Tropical Cyclone Olivia

    Gov. Ige signs an emergency proclamation in anticipation of Tropical Cyclone Olivia

    On Saturday, Olivia is forecast to be the fifth hurricane to enter the Central Pacific this hurricane season. Olivia would be the second tropical system to hit the Hawaiian Islands this year.
    Patriots not considering long-term extension for Tom Brady

    Patriots not considering long-term extension for Tom Brady

    It'll be a challenge for me. "If I'm going to do something at this point, it's going to be because I enjoy it", said Brady. Brady said his desire to play another five years is based, in large part, on his belief that he's gotten better with age.
  • UK calls Security Council talks on poison case

    UK calls Security Council talks on poison case

    Russia's top security officials routinely speak of active attempts by the CIA and other Western agencies to recruit Russians. As a result, Basu said, police weren't yet ready to bring charges in the second poisoning.
    Ex-campaign aide of Trump jailed in Russian Federation  probe

    Ex-campaign aide of Trump jailed in Russian Federation probe

    Papadopoulos was the key to discovering that, the government says. "I might have, but I have no recollection of doing so". But the attorney said "the president of the United States hindered this investigation more than Papadopoulos ever could".
    US Open: Novak calls for action over sauna conditions

    US Open: Novak calls for action over sauna conditions

    Djokovic said the tournament needs to address the problem of air-conditioning in an arena which can hold nearly 25,000 people. The No. 21 seed continued his strong season after returning from a wrist injury that forced him to miss the U.S.


Popular

Desperate Democrats Resort to Calling Children to Testify Against Kavanaugh | Trending
Republicans control the Senate 51-49, and Vice President Mike Pence would get to vote in the case of a tie. It also says he committed perjury during hearings related to his confirmation to the U.S.

Ugly tie: Browns coach: Taylor, offense must ‘play better’
Conditions were garbage and Week 1 is always wonky, but the Steelers offense couldn't break free from the Browns. Gordon had only three passes thrown his way against the Steelers, but made the most of his only reception.

Obama returns to campaign trail in California | Don't Miss This
One of the country's best decision battlegrounds just pulled in the Democrats' greatest star, previous President Barack Obama . The objective for Democrats now is to ride against Trump supposition and turn out voters in November.

LeBron shouts out Khalil Mack
The Packers cut the Bears' lead to 20-17 with 9:01 to play on Aaron Rodgers' 12-yard touchdown pass to Davante Adams . The ovation from the crowd lifts you up, gives the energy, the momentum of the game, and you feel the tide turning.

Tesla Stock Takes A Hit - After Elon Musk Does The Same
A man walks near a logo of Tesla outside its China headquarters at China Central Mall in Beijing, China July 11, 2018. Tesla shares fell as much as 10% to $252.25 as of 9.46am in NY , the steepest intra-day drop since June 2016.

Sergio Ramos 'not concerned' about Mohamed Salah fallout
Sergio Ramos and Real Madrid have got a flawless start to their La Liga campaign as the defending champions have garnered maximum points from three games.

Turkish president to visit Iran for talks on Syria
As in other regions taken by Ankara-backed rebels, Turkey will later train a rebel force to ensure Idlib's security. Washington warned Tuesday that if Damascus were to use chemical weapons, it would respond.

US Defence Secretary James Mattis To Keep His Job, Says Donald Trump
In the book, Woodward writes about Mattis and Kelly's frustrations about working with the president, at times defying his demands. Asked by reporters at the White House whether he was considering replacing Mattis, Trump said: "He'll stay right there".

Became known the price of three new iPhone models
The 6.1-inch iPhone is expected to be built out of aluminium, instead of stainless steel which will be used with the other two. The crown seems to be more deeply embedded into the body of the watch and its opening seems to be of a different shape.

Gordon makes landfall on Gulf Coast
And in the eastern Pacific, neither Hurricane Norman nor Tropical Storm Olivia is forecast to affect any land areas. Communities along the coast provided sand and bags, and many hustled to protect their properties ahead of the storm.