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Trump plans to go ahead and raise China tariffs

28 November, 2018, 04:59 | Author: Shawna Walton
  • The iPhone X and XS. Apple is restarting production of the X and cutting orders for components of the XS for a second time

The comments ran counter to recent speculation about a possible deal when Trump meets Chinese President Xi Jinping at the G20 summit in Buenos Aires later this week.

Mr Trump said that the next round of tariffs could be on goods which are not yet hit by tariffs, such as laptops and Apple iPhones imported from China.

Trump said it was "highly unlikely" he would accept China's request to hold off on the increase.

In recent months the United States and China have been engaged in rather heated negotiations regarding worldwide trade deals, and the U.S. has leveraged tariffs in an attempt to gain the upper hand.

Apple products have so far escaped the growing trade war between China and the Trump administration, but the grace period may be coming to an end soon. "I mean, I can make it 10 percent, and people could stand that very easily", he said.

"China should change its practices and come into the community of responsible trading nations", Kudlow said, stressing that he considers the United States economy in far better shape than China's to weather a prolonged trade war.

But Kudlow warned that if China holds out against USA demands, Washington could ramp up the trade war.

U.S. President Donald J. Trump said an interview with The Wall Street Journal (WSJ) Monday that the levy could be as high as 10 percent.

So far, Apple's most lucrative devices, like the iPhone and iPad, have been left out of USA tariffs.

"Maybe I won't have the meeting", Trump said, according to The Washington Post.

Analysts at National Australia Bank noted the 30 per cent drop in oil since early October would drag on USA inflation in coming months, perhaps offering further reason for the Federal Reserve to go slower on tightening. Asian markets were little changed, showing resilience despite US President Donald Trump's comments that seemed to dim hopes of a trade truce with China. In September, the Trump administration announced a 10 per cent tariff on US$200 billion of Chinese goods, and said the rate will rise to 25 per cent on January 1.

White House spokeswoman Sarah Huckabee Sanders called the trip an opportunity for the president to cement relations with other world leaders and advance a global economic system based on "free, fair and reciprocal trade". However, in recent months, he has modified that view, saying in an interview this year that "it's not true that the iPhone is not made in the United States".

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