Money: Apple pleads with Trump for China trade war truce - - PressFrom - United Kingdom
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MoneyApple pleads with Trump for China trade war truce

14:25  21 june  2019
14:25  21 june  2019 Source:   news.sky.com

Trump issues tariff warning to Xi as G20 looms

Trump issues tariff warning to Xi as G20 looms Donald Trump says the US will impose tariffs on more Chinese imports if President Xi Jinping boycotts the looming G20 summit. He threatened the escalation in an interview with US-based business channel CNBC, declaring that additional tariffs would come into effect immediately. President Trump told the broadcaster he would tax the remaining Chinese goods currently not affected by the trade war if his Chinese counterpart did not meet him for talks - expected during the G20 meeting in Japan at the end of June. He has previously threatened to target $300bn of Chinese imports not already covered by the trade war.

The US and China agreed to a trade war truce at the start of December and have put any additional tariffs on hold. But that truce is only set to last until Regardless of the trade war 's future, Cook's statements make it clear that Trump 's trade war with China is indirectly harming one of the America's

The US and China are locked in an escalating trade battle. US President Donald Trump has complained about China 's trading practices since The US launched an investigation into Chinese trade policies in 2017. It imposed tariffs on billions of dollars worth of Chinese products last year, and

Apple pleads with Trump for China trade war truce © Reuters President Donald Trump is due to meet his Chinese counterpart for crunch talks at the G-20 summit in Japan

Apple has warned that Donald Trump's threatened China trade war escalation could "tilt the playing field in favour of its global competitors."

The tech firm used an online submission to hearings conducted by US trade officials to argue that plans to extend tariffs to another $300bn (£236bn) of Chinese goods would be counterproductive and risked damaging its contributions to the US Treasury.

It pointed out that Apple was currently the largest corporate taxpayer - with an expected $350bn (£276bn) over five years in jeopardy.

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Google is moving US-bound Nest production out of China, reports Bloomberg Motherboards for Alphabet’s US data centers have left China as well

Apple ’s China Trouble Makes Trump ’s Trade War Harder to Defend. President Donald Trump ’s administration argues that the long-term gain from a trade war with With less than two months left before the trade truce expires and tariffs on 0 billion worth of Chinese goods are set to hike to 25

WASHINGTON — A trade war between the world’s two largest economies officially began on Friday morning as the Trump administration followed through with its threat to impose tariffs on billion worth of Chinese products

The president has said the additional tariffs will be imposed if a meeting he is due to hold next week with his Chinese counterpart Xi Jinping does not yield progress.

Trump's trade war, mainly aimed at slashing a big trade deficit with the world's second-largest economy, has been blamed for dragging on economic growth - not just in the US and China but globally.

This week, the US Federal Reserve signalled interest rate cuts could be on the way to help maintain activity while the People's Bank of China has been injecting funds into money markets to provide domestic support.

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Wall Street rallies sharply, with Dow Jones Industrial Average adding more than 300 points.

WASHINGTON — President Trump cast his trade accord with President Xi Jinping of China as a huge victory for American farmers, automakers and other key political constituencies — statements The issue of auto tariffs had not appeared in either government’s public statement after the trade war truce .

Apple would be hurt by tariffs on extra Chinese goods as key products, including iPhones and MacBooks, are manufactured there.

There is speculation it has been exploring a shift away from China to reduce its exposure to the threatened duties.

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Apple pleads with Trump for China trade war truce

Apple told the US Trade Representative it would be doubly hurt as Chinese competitors do not have a significant market presence in the US.

Other companies to voice their opposition include Dell Technologies Inc, HP and Walmart.

A theme in corporate America's argument has been that many US firms rely on China to source a vast array of products and finding alternative suppliers will raise costs substantially - costs that risk being passed on to consumers.

The country's seventh-largest importer, retailer Dollar Tree, wrote: "Simply put, the imposition of an additional 25% duty on the types of everyday, household products that we offer will have a significant and disproportionate negative impact on middle- and low-income American households."

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Trump Is Losing His Trade Wars.
Donald Trump’s declaration that “trade wars are good, and easy to win” will surely go down in the history books as a classic utterance — but not in a good way. Instead it will go alongside Dick Cheney’s prediction, on the eve of the Iraq war, that “we will, in fact, be welcomed as liberators.” That is, it will be used to illustrate the arrogance and ignorance that so often drives crucial policy decisions. For the reality is that Trump isn’t winning his trade wars. True, his tariffs have hurt China and other foreign economies.

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