Tariffs on All Chinese Goods "Ready to Go"

11 September, 2018, 12:19 | Author: Rachel Logan
  • The Trump administration is poised to impose 25 percent penalties this week on $200bn worth of Chinese goods

Trump imposed customs duties of up to 25 percent on $34 billion worth of Chinese goods in July, and on another $16 billion in August, triggering swift tit-for-tat responses from Beijing.

"We've taxed them $50 billion - that's on technology", the president told reporters aboard Air Force One. The company is concerned, however, about the Trump administration's proposal to add 25 percent duties on another $200 billion in Chinese goods, including a wider assortment of consumer-related items.

"That totally changes the equation", Trump said.

Trump latest tariffs threats, if he follows through, would more than cover the value of all goods the us buys from China, according to USA government data from a year ago.

"It is hard to see how tariffs that hurt US companies and USA consumers will advance the Government's objectives with respect to China's technology policies". The U.S. imported US$505 billion of Chinese products in 2017, Census Bureau figures show.

In the letter, Apple says the tariff list "covers a wide range of Apple products and the products used in our United States operations", including the Mac Mini, Apple power adaptors, cables, the Apple Watch, the Apple Pencil and Air Pods.

World share indexes registered their biggest weekly declines in nearly six months in a volatile session yesterday as investors weighed solid United States economic data against expectations for higher interest rates and USA trade tensions on multiple fronts.

More news: Trump says he could meet Russian Federation investigation special counsel ‘under certain circumstances’

But while moving its manufacturing operations to the United States would allow it to skip the tariffs, Apple's products likely wouldn't be any cheaper. Apple's letter to the U.S. trade office named several company products that risk facing duties; they include the HomePod, the Apple Pencil, company chargers and adapters for Apple devices, and even the leather covers for iPhones and iPads.

Trump's decision to double-down on his uncompromising stance toward China means little chance of an early resolution of the standoff between the world's two largest economies.

The U.S.'s ability to continue to dominate telecommunications technology, including the upcoming fifth-generation phone networks, will be hampered by the levy on imports from China.

U.S. Census Bureau. Trade in Goods with China.

Here's the scorecard on Trump's trade war with China. Chinese officials may respond by subjecting American companies operating in China to unexpected tax audits, custom inspections or even consumer boycotts. If Trump's Republicans lose control of one or both houses of Congress, it will weaken Trump's leverage and strengthen China's, and represent of repudiation of Trump's trade policies by his own voters. The company noted it spent $50 billion with 9,000 USA suppliers in its most recent fiscal year, including Texas-based chip firm Finisar Corp and Kentucky-based Corning Inc.

President Donald Trump suggested that Apple could face no taxes if the company moves its manufacturing process to the United States from China.

Some business groups greeted the president's latest tariff threats with dismay.

Recommended:

  • BA hacked: 380,000 card payments 'compromised' in breach

    BA hacked: 380,000 card payments 'compromised' in breach

    In a statement , the airline added: "We have notified the police and relevant authorities". A spokesman for the ICO said it would be "making inquiries" into the British Airways hack.
    Pogba always welcome at Barca - Suarez

    Pogba always welcome at Barca - Suarez

    Chris Smalling believes that Manchester United have always been soft targets for critics whenever there are any minor lapses. It's a well known fact that John Terry supported Manchester United as a youngster .
    Special Counsel Reportedly Agrees To Accept Written Answers From President

    Special Counsel Reportedly Agrees To Accept Written Answers From President

    Trump's lawyers have dangled written answers as a possibility, and Mueller's team appeared receptive to it as an interim measure. The letter was the latest step in ongoing negotiations between Mueller and the president's lawyers over a potential interview.
  • Bradley holds off Rose in playoff to win at Aronimink

    Bradley holds off Rose in playoff to win at Aronimink

    That projects him to move up 22 spots into the 30th position in the FedEx Cup, which would bump out Jordan Spieth . Casey cited back pain for pulling out of the FedEx Cup playoff event at Aronimink on Monday morning.
    Elon Musk apparently smoked marijuana in live podcast; Tesla stock down

    Elon Musk apparently smoked marijuana in live podcast; Tesla stock down

    Shares of Tesla were down as much as 10 percent in early Friday trade, the biggest percent drop for the company since June 2016. Some investors were likely concerned with Musk's behavior during the Rogan podcast, which included some smoking and alcohol.
    Obama To Blame For The Rise Of Trump, Says Jacob Rees-Mogg

    Obama To Blame For The Rise Of Trump, Says Jacob Rees-Mogg

    The biggest political shock came in the 2016 presidential election when Orange County voters chose Hillary Clinton over Trump. There are now 237 seats held by Republicans in the House of Representatives and 193 held by Democrats.
  • Could 'soon' impose tariffs on $200bn in Chinese goods, says Trump

    Could 'soon' impose tariffs on $200bn in Chinese goods, says Trump

    The label of a Washington D.C. sweatshirt bears a U.S. flag but says "Made in China" at a souvenir stand in Washington , U.S. The Shanghai market is down roughly 23 percent in dollar terms so far this year while the Dow has risen almost 5 percent.
    Gordon moving fast, expected to hit Gulf Coast as hurricane

    Gordon moving fast, expected to hit Gulf Coast as hurricane

    Dominic Carlucci drove back to his home on the barrier island in his Hummer, and found no damage, just a sagging wooden fence. Rapid weakening is forecast after Gordon moves inland, and Gordon is forecast to become a tropical depression on Wednesday.
    Stephens looks to Asia after US Open ouster

    Stephens looks to Asia after US Open ouster

    But having returned to tennis in 2015, Sevastova has risen steadily through the ranks and is now ranked No 18 in the world. Open semifinalists, a year after an all-American women's final four. "In the end it's incredible , you can't believe it".
  • Chinese billionaire Jack Ma confirms exit at Alibaba, announces successor

    Chinese billionaire Jack Ma confirms exit at Alibaba, announces successor

    Over the course of his tenure at Alibaba, Ma became China's richest man , earning a net worth of more than $40 billion. Here are five things to know about Jack Ma. "The challenges will be how Alibaba can expand outside of Asia".
    Tesla's Musk smokes marijuana on comedy podcast

    Tesla's Musk smokes marijuana on comedy podcast

    It later said that Chief People Officer Gaby Toledano would not return from a leave of absence, just over a year after joining. Neither Tesla nor Musk have commented on the Buzzfeed report. "I'm not a regular smoker of weed ", Mr Musk said.
    Florence weakens to a tropical storm

    Florence weakens to a tropical storm

    Though weakened to a tropical storm, Florence was expected to regain hurricane strength as it neared Bermuda. It's still too early to know for sure, but we should all be tracking the storm carefully in the days ahead.


Popular

Wonderful astronaut photos show hurricanes swirling in the Atlantic
The state's emergency management division has posted additional information on the evacuations and how to prepare. I say "active" hurricanes because there are more storms out there that could mature into a hurricane.

Trump aide Papadopoulos gets 14 days in prison
He told the court that his "entire life has been turned upside down" and that he hoped for a second chance to redeem himself. Papadopoulos apologized for his actions, telling a judge that he had made a "dreadful mistake" and was eager for redemption.

North Korea stages huge parade, but holds back on advanced missiles
But the only ones on show were the blue Kumsong-3, an anti-ship cruise missile, and the Pongae-5 surface-to-air weapon. Thousands of accompanying citizens waved bouquets and flags, chanting "Long live" to the leader.

The umpire was right to give Serena Williams a serve
Her previous best performance at a Grand Slam was losing in the fourth round at this year's Australian Open. In a second tweet, King added: "When a woman is emotional, she's "hysterical" and she's penalized for it".

Rapper Mac Miller dead at 26
The 25-year-old performing ten songs from her recent album Sweetener , as well as an a cappella rendition of 'One More Time' . Another source said Grande is heartbroken, adding, "Despite their split , Ariana had always been supportive of his sobriety".

Spain coach imposes cell phone ban on players
Enrique, too, gave a glowing report on the man he has decided will continue with the captain's armband under his tenure. That decision was reportedly opposed by numerous senior players in the Spain squad, including captain Sergio Ramos .

Alibaba's Jack Ma to unveil succession plan next week, remain chairman
A devotee of tai chi, he has made references to Chinese martial arts in both business strategy and corporate culture. A former English teacher before establishing Alibaba with 17 partners, Ma is known by colleagues as "Teacher Ma".

How it works, format, structure and so on — UEFA Nations League
The tournament resurfaced in a bid to revamp the level of worldwide football and reduce irrelevant friendlies. And this is where it does become really complicated.

Russia, Iran, Turkey presidents meet in Tehran on Syria's Idlib province
Turkey also does not want to see another Kurdish-controlled area rise along its border, as it already faces in northern Iraq. Trump will chair a UN Security Council meeting on Iran during an annual gathering of world leaders in NY later this month.

The new 6.1-inch iPhone could come in red and blue colors
According to reports , the 6.1 inch LCD iPhone 9 will cost close to what the iPhone 8 costed during the time of tis release. There are also rumours that there's a 6.1 inch model, with an LCD screen, which is supposed to replace the iPhone 8 .