Apple, Intel: US Tariffs on China Will Increase Prices for Electronics

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It would also be in addition to tariffs his administration has already imposed on $50 billion in Chinese imports, for which Beijing has retaliated with an equal amount of import taxes on US goods.

Implementing both sets of tariffs would subject virtually all USA imports from China to new duties as the world's two largest economies escalate their trade war over Trump's demands that Beijing make major economic policy changes.

Yesterday, as the Guardian reported, Trump said that he wants to impose tariffs on an additional $267 billion in Chinese goods, totaling $467 billion.

Members of the public had until Thursday to comment on the administration's plan to slap tariffs on US$200 billion of Chinese goods, ranging from bicycles and baseball gloves to digital cameras, paving the way for Trump to announce the tariffs as early as Friday.

"That totally changes the equation", Trump said. It makes many of its products for the US market in China, and it also sells gadgets including the iPhone in China, making them a potential target for Chinese retaliation against the Trump tariffs. This is the full-blown trade war investors have been fearing, and it's depressing financial markets, as expected.

Apple said the proposed tariffs would lead to lower USA growth and competitiveness and higher prices for US consumers.

So far this year, USA imports from China are running roughly 8pc higher than during the same period in 2017. To a certain extent its going to be up to China, Trump said.

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United States president Donald Trump has threatened to intensify his trade war with China, warning he could impose tariffs on nearly all its imports. He has pointed to the large USA trade deficit - the gap between US imports and exports - with the People's Republic as a sign of that imbalance. Apple said it was "difficult to see" how tariffs would advance the government's goal.

Now imagine if, before the end of the year, a base 13-inch MacBook Pro that would normally cost $US1300 ($1818) is suddenly priced closer to $US1600 ($2237) after the cost increase from added tariffs gets passed along to consumers.

Tariffs could be used to shift negative attention away from the Trump administration, according to Height. Earlier this year, the company said that as part of tax reform it would spend $350 billion in the U.S. over the next five years. Apple cited the Apple Watch, AirPods, and the Apple Pencil as potentially impacted products, but devices like the iPhone would likely be affected as well given a China-centric supply chain.

But the tariffs do not appear to have dented the appetite for Chinese-made products in the United States.

USA companies are joining forces to oppose a common threat-tariffs.

"We'll continue to talk to China", he said at the White House on September 5.