Wednesday, 26 September, 2018


Trump fires back at Apple: Make your products in US

Shipping containers stand March 23 in a terminal at the Yangshan Deep Water Port in Shanghai. New data show the U.S. goods deficit with China in the seven months through July this year widened about 8 percent to $234 billion from the same period in 2017 Stocks slide ahead of US-Canada trade talks; tech lags
Bennie Garza | 10 September, 2018, 23:23

"U.S. businesses and citizens-not Chinese companies or the government-pay these tariffs on US imports".

Manufacturers and small and mid-sized firms in particular can't quickly adjust and the tariffs imposed so far haven't led to any meaningful concessions, a coalition of the National Retail Federation and 150 organizations said in separate comments to Lighthizer.

They warned that an additional duty of up to 25% "would cause broad, disproportionate economic harm to United States interests", including reduced spending on research and development and a slow down in innovations such as cloud computing and the rollout of 5G networks in the US.

"Soybean farmers are not real happy about the tariffs but recognize the need to do something about China". While every element of the U.S.jobs report remains highly significant, there will be a special focus on wage growth.

"But right now we just can't make that deal".

Trump's comments come after Apple expressed dissatisfaction over his administration's China tariffs.

Rockland's relationship with China isn't all good, though. "Anything we develop, usually in about six months, we see the same products coming out of Chinese mills".

"Given the balance of Apple's economic footprint, the burden of the proposed tariffs will fall much more heavily on the United States than on China", Apple said in its letter. China exported about $505 billion in goods to the United States previous year, suggesting that the combined tariff list would cover virtually all Chinese-made goods.

China's trade surplus with the United States ballooned to a new record $31 billion in August despite a raft of USA tariffs, official data showed Saturday, adding fuel to the flames of a searing trade war.

"Make your products in the United States instead of China". The US imported $505 billion of Chinese products in 2017, Census Bureau figures show.

Berman said it would be fair for tariffs to be imposed on the Chinese products, but not on Rockland's raw materials.

The last-ditch effort came as USA public hearings on the upcoming tariffs ended. An intensified trade war would likely hurt the USA more than China, according to S&P Global Ratings.

Should the U.S. slap tariffs on an additional amount of Chinese goods of that scale, the total value subjected to the duties would be around that of total imports to the USA from China.

China has responded to the tariffs on $200 billion by saying it will retaliate with tariffs on $60 billion.

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

As the president readies additional anti-China trade barriers, some economists worry about the economic toll.

Imports, a key gauge of the strength of China's domestic demand, grew 20 percent, beating forecasts.

But there are other retaliatory tools China can tap, and few trade experts think China will capitulate any time soon.

Rockland employs 240 people, mainly at its manufacturing plant in Bamberg, S.C. Many lawmakers, including from Trump's own Republican party, oppose the president's zeal for tariffs but have limited options for curbing such sanctions.

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.

But some trade experts have warned about the hazards of using tariffs as a negotiating tactic in any capacity. However, that could change if the Trump administration follows through with earlier threats of levies on $500 billion in imports, which would cover just about everything China exports to the US, trade experts say.

"In summary, [the proposed tariff list] is so broad and encompasses so many information, communication and technology (ICT) products that significant consumer harm is unavoidable", Intel said.

With the added pressures from trade concerns, 10 out of the S&P's 11 major sectors ended lower.

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