Trump calls on Apple to move production from China to US

Trump calls on Apple to move production from China to US

It would also be in addition to tariffs his administration has already imposed on $50 billion in Chinese imports, for which Beijing has retaliated with an equal amount of import taxes on USA goods. "And I hate to say this, but behind that is another $267 billion ready to go on short notice if I want. The traditional method of calculating the United States trade balance attributes the entire value of our products to the country where final assembly is located, in most cases China". This, however, only refers to Apple, the iPhone, and the other Apple products. The goods trade deficit with China surged to a record high in July.

"The end game in the U.S".

The pan-European FTSEurofirst 300 index rose 0.05 per cent. MSCI's gauge of stocks across the globe shed 0.28 per cent on the day and 4.4 per cent for the week, marking its biggest weekly drop since mid-March.

"I don't think this magnitude of tariffs has been priced into the markets", Ms Lara Rhame, chief U.S. economist at FS Investments, told Bloomberg Television.

But there's mitigating news in the labor market, with employers adding 201,000 jobs in August-a strong pace of job growth that shows the underlying economy on solid footing.

Freeland told reporters she and US Trade Representative Robert Lighthizer will be "reviewing the work the officials have done" and said "the atmosphere continues to be constructive".

The chip maker points to a study from the trade group, the Consumer Technology Association, which estimates the proposed tariffs will increase prices for U.S. electronics by 6 percent. That was considered Mr Trump's most significant trade move since his decision to pull the United States out of the TPP and renegotiate the North American Free Trade Agreement (Nafta).

White House economic adviser Larry Kudlow said the administration would not make any decisions until officials had evaluated almost 6,000 comments received. Beijing reported a record $275.8 billion trade surplus with the United States previous year.

More news: Barack Obama Rebukes Donald Trump Publicly For First Time

In a separate interview with Bloomberg Television, Kudlow suggested the president would be willing to meet with Chinese President Xi Jinping on trade, possibly as early as this month at the United Nations General Assembly.

Here's the scorecard on Trump's trade war with China.

U.S. businesses have become increasingly concerned about the exchange of tariffs, which are raising prices for manufacturers and hurting USA consumers and farmers.

The talks have been hung up over Canada's insistence on retaining a dispute resolution mechanism in Chapter 19, and the USA objections over Ottawa's tight controls over the dairy market.

Dell, Cisco, Juniper Networks and Hewlett Packard Enterprise warn the new taxes could result in U.S. job losses.

The trade war could inflict further damage if it rattles financial markets, thereby hurting business confidence and potentially discouraging investment.

Apple has written a letter to the Trump administration, saying the proposed $200 billion tariffs on China-made products will make the Apple Watch, AirPods headphones, HomePod smart speaker, Macs and key computer parts more expensive. The disclosure prompted its shares to turn negative. President Trump also expects to meet with leaders in Europe next week to discuss cross-Atlantic trade tensions.

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