China threatens RETALIATION after Trump warns of fresh tariffs in trade war

Apple, in pushing back on the tariff proposal, said it bought more than $50 billion worth of components from US-based suppliers previous year and that it's the largest USA corporate tax payer.

"It would not be profitable to the build the Focus Active in the US given an expected annual sales volume of fewer than 500,000 units", a Ford statement said.

He'd been responding to an August 31 report about Ford's decision to cancel plans to sell the Chinese-made Focus Active in the USA because of the taxes on Chinese imports.

World shares were flirting with their longest run of declines since early 2016 on Monday, hit by rising anxiety about the U.S.

But despite Trump's claims, Ford insisted that this was not the case and that the Focus hatchback will not be built in the United States. China is retaliating with its own tariffs on U.S. products. That would extend tariff increases to almost all of China's exports to the United States.

Mr. Trump presumably learned about Ford's decision to cancel the Focus Active from a TV news program and inferred the announcement meant that Ford would build the CUV in America. "Exciting!" Trump said in the tweet.

An Apple spokesman did not immediately respond when asked for comment.

The US has imposed $50 billion worth of tariffs on Chinese goods with another $200 billion in the final stages.

"Our concern with these tariffs is that the USA will be hardest hit, and that will result in lower U.S. growth and competitiveness and higher prices for United States consumers", Apple said in its letter.

On Friday, Trump said he was ready to levy additional taxes on practically all Chinese imports, threatening duties on $267 billion of goods over and above planned tariffs on $200 billion of Chinese products.

Apple is highly exposed to a trade war between the United States and China.

Official and private manufacturing surveys for China show global demand for Chinese goods is clearly on the wane, with export orders shrinking for months in a row."Risks have increased due to the negative impacts of China-U.S. trade friction".

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