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Trump plans to go ahead and raise China tariffs

Trump plans to go ahead and raise China tariffs

US President Donald Trump suggested he could place 10 percent tariffs on popular electronic products imported from China, like iPhones, also noting that it is "highly unlikely" he would delay a planned increase in tariffs from 10 percent to 25 percent on January 1.

"If we don't make a deal, then I'm going to put the US$267 billion additional on", at a tariff rate of either 10 per cent or 25 per cent, Mr Trump told the Wall Street Journal.

He said the tariffs could also be placed on laptops and Apple Inc's (AAPL.O) iPhones imported from China, and that any potential backlash from USA consumers could be tempered if the tariff rate was just 10 percent, according to the newspaper.

USA stocks declined on Tuesday after President Donald Trump's threat to move ahead with additional tariffs on Chinese goods dampened hopes of resolving the trade spat at the upcoming G20 Summit.

"The only deal that would be really acceptable to me.would be China has to open up their country to competition from the United States", the president told the newspaper.

In his early years running Apple, Cook would respond to questions about increasing manufacturing in the U.S.by saying the skill sets in China are more conducive to producing the company's products. "What would the United States do?"

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Donald Trump has raised the stakes in the escalating global trade dispute between the US, China and some of America's traditional allies ahead of a major gathering of world leaders this week. "Here's what the bottom line is: China has to treat us fairly".

"Although the current economic situation in the U.S.is good, people can not rule out the possibility of another-I don't want to use the word "crisis"-a similar situation as what happened 10 years ago", he warned".

Cellphones and computers, among China's biggest exports to the United States, have thus far been spared as the administration has sought to minimise the impact on USA consumers.

Since summer, trade tensions have simmered between Washington and Beijing as Trump first announced $50 billion in additional tariffs on Chinese products, arguing that the Asian nation was treating the U.S.

The Wall Street Journal said the administration has been anxious about a consumer reaction to such levies.

Apple stock fell about 1.6 percent in extended trading Monday following the comments. Ultimately, the US President advised companies willing to avoid tariffs should “build factories in the United States”.


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