Technology: Tech companies get a reprieve thanks to a reversal from the President on tariffs - PressFrom - US
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TechnologyTech companies get a reprieve thanks to a reversal from the President on tariffs

10:21  14 august  2019
10:21  14 august  2019 Source:   techcrunch.com

Trump administration launches investigation into French plan for tax on tech giants

Trump administration launches investigation into French plan for tax on tech giants The Trump administration on Wednesday announced an investigation into the French government over its plans to implement a tax on technology companies. require(["medianetNativeAdOnArticle"], function (medianetNativeAdOnArticle) { medianetNativeAdOnArticle.getMedianetNativeAds(true); }); United States Trade Representative (USTR) Robert Lighthizer expressed concerns that the French digital tax could disproportionately affect American companies.

The commission could effectively reverse the tariffs , first The company is based near Vancouver, a few hundred miles from the Washington state headquarters of the only US company that pushed The agency says the measure counters subsidies that those companies get from the Canadian

“Certain products are being removed from the tariff list based on health, safety, national security and other factors and will not face additional tariffs Stock prices for companies like Apple have already seen a positive bump following the news. The White House is expected to have additional trade talks

President Donald Trump and the Office of the U.S. Trade Representative have issued technology companies some temporary tariff relief.

Citing an unwillingness to hit consumers with higher prices on things like computers, mobile phones, laptops, video game consoles, computer monitors, clothes and shoes before the holidays, the President and his trade reps are holding off on slapping additional tariffs on those products coming from China.

The President could also have been motivated by growing concerns that the ongoing trade war could trigger a global recession and hurt his chances for re-election in 2020.

Trump delays laptop and smartphone tariffs until December

Trump delays laptop and smartphone tariffs until December The administration said it was delaying implementation

The tariffs are designed to change negotiating dynamics between China and the United States over trade and give Trump leverage to get concessions out of Beijing. “If we stop importing a product from China, we’ll just import it from the next lowest cost producer, such as Korea or Vietnam or Malaysia

For tech companies and startups, the uncertainty and lack of clarity around these tariff policies is difficult to manage. Over the weekend, he announced plans to give ZTE a reprieve on its seven-year U.S. trade ban Trump cited, of all things, a loss of jobs in China as a key reason behind the reversal .

Whatever the reason, the news sparked a stock market rally on Tuesday with investors ignoring the rising prices that 10% tariffs on imports that don't include consumer goods would cause.

The Dow Jones Industrial Average and S&P 500 indices were both up 1.4% on the day, while the Nasdaq rose 1.9% -- thanks in large part to a surge of Apple stock. The company's stock rose $8.49 or over 4.2% to close at $208.97.

At the beginning of the month, President Trump said he would slap a 10% tariff on $300 billion worth of Chinese goods, which sent markets tumbling. An ensuing slight devaluation of the Chinese currency further pushed markets into a tailspin before they began to recover.

The news on Tuesday all but erased those earlier losses.

Apple iPhones Get Tariff Reprieve, But Other Tech Gear Still Hit

Apple iPhones Get Tariff Reprieve, But Other Tech Gear Still Hit The Trump administration delayed a 10% tariff on some Chinese-made products on Tuesday. Apple Inc.’s iPhone was one of the main beneficiaries of the move, but other tech gadgets weren’t so lucky. require(["medianetNativeAdOnArticle"], function (medianetNativeAdOnArticle) { medianetNativeAdOnArticle.getMedianetNativeAds(true); }); Here’s a rundown of which technologies got the temporary reprieve and what offerings will still get hit: Tariffs delayed until Dec. 15:Telephones for cellular networks or for other wireless networks.

US delays tariffs on cellphones, other Chinese goods, drops others altogether; stocks rally. 1. Among the products that will benefit from the 3½-month reprieve are such popular consumer goods as So far, Trump’s tariffs have failed to get President Xi Jinping to yield to the U.S. demands on

So far, Trump’s tariffs have failed to get President Xi Jinping to yield to the U.S. demands on the thornier issues of intellectual property theft and coerced technology transfers. And the taxes on imports are increasingly drawing resistance in the United States. ‘‘I don’t think we’re any closer to a deal

These market whipsaws between fear and trembling and irrational exuberance won't end until the U.S. and China come to some sort of agreement in the trade war.

Earlier in the day, Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer spoke with their Chinese counterparts Vice Premier Liu He and Commerce Minister Zhong Shan about the ongoing trade battle. The two Chinese officials issued a protest against the duties that were set to take effect in September. The two trade representatives have a called scheduled for another two weeks.

US gives Huawei a 90-day reprieve on technology trade ban.
NEW YORK (AP) — Commerce Secretary Wilbur Ross says the U.S. will extend by 90 days the ability of Chinese telecommunications giant Huawei to buy supplies from U.S. companies. It's the second extension for Huawei, a company that the U.S. sees as a national security risk. The comments Monday from Ross on Fox Business News sent shares of U.S. computer chip makers bolting higher. Huawei is China's biggest phone maker and sales to the company account for a significant portion of revenues for some U.S. suppliers. © Provided by The Associated Press FILE - In this July 30, 2019, file photo a woman walks by a Huawei retail store in Beijing. The U.S.

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