Published: Wed, September 12, 2018
Markets | By Otis Pena

U.S. companies bemoan impact of Trump trade tariffs

U.S. companies bemoan impact of Trump trade tariffs

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

He talks about an easy solution in which Apple makes its products in the United States instead of China for zero tax.

Trump touted the decision with a weekend tweet, noting that the auto "can now be BUILT IN THE U.S.A". "This auto can now be BUILT IN THE USA and Ford will pay no tariffs!". "First, 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".

President Donald Trump's proposed $200 billion tariff on Chinese-made goods won't make your next iPhone more expensive, but it might hit the Apple Watch, Pencil, and Air Pods, according to Apple.

The company announced late last month that Trump's decision to implement steep tariffs against China undermined the profitability of the new auto, which the company had initially planned to ship into America for sale next year.

Ford last month cancelled plans to import its Focus Active crossover vehicle into the U.S. from China because Trump's tariffs have undermined the business case for a vehicle with expected annual domestic sales of fewer than 50,000 units.

"Without the tariffs, the business case was pretty solid for that model in the United States market", he said. Cook also reportedly secured some kind of commitment that iPhones assembled overseas won't be subject to tariffs in Trump's brimming trade war with China.

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President Donald Trump tweeted Saturday that there's a simple solution: just make the products in the USA where there'd be zero tariffs.

Also affected would be the MacMini, Apple adapters, cables and chargers, MacBook trackpads, memory modules, graphic cards, PCBAs, as well as components the firm uses for manufacturing and product repairs, testing equipment for Apple's labs, and data center equipment.

Trump's threatened tariffs cover a total of $517 billion in Chinese goods, which would exceed last year's goods imports of $505 billion from China.

Mr Trump said: "I am being strong on China because I have to be". The Dow Jones industrial average shed 0.3 percent to 25,916.54.

Trump warned last week those tariffs - targeting $200 billion in Chinese imports - could come "very soon".

United States markets look set for a modest rebound on the open after last week's sell-off, despite the ratcheting up of trade tensions by the President Trump over the weekend. He then asked it to "start building new plants now". "We hope, instead, that you will reconsider these measures and work to find other, more effective solutions that leave the USA economy and USA consumer stronger and healthier than ever before", Apple said.

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