Friday, 21 September, 2018

Apple says China tariffs would hit Apple Watch, Air Pods

A man walks past a screen at the Indonesia Stock Exchange building in Jakarta Indonesia A man walks past a screen at the Indonesia Stock Exchange building in Jakarta Indonesia
Jodi Jackson | 08 September, 2018, 21:26

Lighthizer is due to meet Monday in Brussels with EU Trade Commissioner Cecilia Malmstrom to resolve the dispute ignited when Trump imposed steep duties on all steel and aluminum imports. The U.S. imported US$505 billion of Chinese products in 2017, Census Bureau figures show.

The new round of tariffs would be on top of the $200 billion in Chinese goods the administration has already targeted.

"That totally changes the equation", Mr Trump said.

The president has called for an additional $200 billion in tariffs on products imported from China, which Apple says would impact a wide range of its products, including Apple Watch, Apple Pencil, and Air Pods, and force the company to raise prices.

Should the USA slap tariffs on an additional amount of Chinese goods of that scale, the total value subjected to the duties would be around that of total imports to the United States from China.

That list includes some consumer products, like cameras, luggage and tires and they'd be subject to tariffs of 10-25 percent.

While China's response to US demands has been unsatisfactory, Trump is still speaking to Xi, and would be open to meeting in person, said Kudlow, director of the White House's National Economic Council. Both countries have already slapped levies on $50 billion of each other's exports, and China promised on Thursday to respond to any United States escalation with "necessary countermeasures".

While those numbers wouldn't derail the economy - Zandi forecasts that growth would reach 3 percent this year - "you'd start to feel it", Zandi said.

White House economic adviser Larry Kudlow just hours before said talks with Beijing were continuing to try to defuse the conflict, and that he was hopeful that a solution could be found.

Trump said Friday that the timing of the tariffs on the $200bn worth of goods is not yet final.

Guajardo said Thursday it would be "very strange" to sign a new NAFTA "when this trade war is pending".

While U.S. businesses in China do not yet appear to face widespread retaliation, some company officials have said they are bracing for blowback.

Levying duties on all Chinese purchases would hit "every aspect of our American lifestyle - so the clothes that we put on our back, the food that we eat, the cars that we drive, theshoes that we wear", Hun Quach, vice president of global trade for the Retail Industry Leaders Association, said by phone.

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