Apple Says China Tariffs Will Hurt Its Competitiveness and Raise Prices

Trump says he’s ready to hit China with $267bn in additional tariffs

Trump tells Apple to make products in US to avoid China tariffs

President Donald Trump threatened Friday to slap tariffs on all of the Chinese goods imported into the United States.

"The $200bn we are talking about could take place very soon depending on what happens with them", Mr Trump said, in comments made on Air Force One, as he travelled from Montana to South Dakota.

The company said the tariffs would "show up as a tax on U.S. consumers" and "increase the cost of Apple products that our customers have come to rely on in their daily lives".

Speaking in a television interview, White House economic advisor Larry Kudlow said that the administration would be reviewing the roughly 6,000 comments members of the public had made to the US Trade Representative on the $200bn proposals before deciding on how to proceed with the tariffs.

President Donald Trump, surrounded by business leaders and administration officials, prepares to sign a memorandum on intellectual property tariffs on high-tech goods from China, at the White House in Washington, March 22, 2018.

"The Chinese aren't paying these tariffs, American families are going to pay these tariffs. As a result, tariffs will ultimately reduce the economic benefit we generate for the United States", the company writes.

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As CNBC noted, Apple CEO Tim Cook had previously brushed off Trump tariffs, claiming to have had conversations with the POTUS, arguing that the tariffs would not hit Apple products. That was considered Mr Trump's most significant trade move since his decision to pull the U.S. out of the TPP and renegotiate the North American Free Trade Agreement (Nafta).

Trump's threatened tariffs, now totalling $US517 billion in Chinese goods, would exceed the $US505 billion in goods imported from China a year ago.

"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.

"Risks have increased due to the negative impacts of China-U.S. trade friction". The strong performance of markets over the past few months "keeps getting disrupted by news on trade" and "it's just another indication we're not out of the woods yet", she said.

They say a duty of between 10-25% "would cause broad, disproportionate economic harm to USA interests".

Retailers had successfully kept high-profile consumer electronics such as mobile phones and television sets off of previous tariff lists. "However, hope springs eternal".

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