China promises retaliation if U.S. imposes more tariffs

Workers pack tinned peaches for export at a fruits processor in Huaibei city in central China's Anhui province. — AP

Workers pack tinned peaches for export at a fruits processor in Huaibei city in central China's Anhui province. — AP

Ford and other auto companies received a similar brush off when they protested that renegotiating the North American Free Trade Agreement could leave them worse off. Discussions with Canada and Mexico have focused on how much they are willing to accede to US demands.

On Saturday, Trump tweeted that making products in the United Status could serve as an "easy solution" to the new tariffs for Apple.

While Asian markets declined on fears about Trump's tariffs, US stocks began the week strong, with major indexes rebounding from the previous week's losses.

The company said in its filing to the US Trade Representative that the administration's proposed Dollars 200 billion in tariffs would "divert our resources and disadvantage Apple compared to foreign competitors" and lead to higher "consumer prices, lower overall US economic growth, and other unintended economic consequences".

On top of tariffs already in place or in the works, such a move would apply new taxes to the entire $505 billion of goods the United States imported from China past year. "Ford is proud to employ more US hourly workers and build more vehicles in the USA than any other automaker".

Trump's increasing aggression toward China and his strong desires for increases in tariffs have many companies anxious.

Ford confirmed this yesterday via spokesman Mike Levine, who released the following statement: "It would not be profitable to build the Focus Active in the USA given an expected annual sales volume of fewer than 50,000 units and its competitive segment". These tariffs could drive up costs for a host of companies that sell equipment in the USA market, and not just Apple. Cook also reportedly secured some kind of commitment that iPhones assembled overseas won't be subject to tariffs in Trump's brimming trade war with China. As you can see in Trump's tweet above, his solution to that is for Apple to finally move production to the USA, something Trump has been campaigning for since before he was elected. The US imported $505 billion in goods from China a year ago.

However, the company's letter adds that every product of theirs "contains parts or materials from the United States and is made with equipment from U.S. based suppliers". Previously, Trump assured Apple that it would be safe from his trade war with China.

Mr Trump said: "I am being strong on China because I have to be". The US on July 6 began imposing a 25 % tax on $34 billion in Chinese language imports, including motorized autos.

Analyst Wamsi Mohan said that the most likely scenario would see Apple moving 10 percent of its iPhone assembly stateside, resulting in an average iPhone selling price increase of 8 percent to account for higher labor costs.

"Our subject with these tariffs is that the US shall be hardest hit, and that can result in lower USA enhance and competitiveness and better costs for US patrons", Apple wrote within the September 5 letter.

Trump's understanding of and attitude toward trade policy is facing renewed scrutiny after two explosive publications detailed mounting strife between Trump and his closest aides.

Trump's remarks on Sunday came just days after he announced that the administration would go ahead with proposed tariffs on US$200 billion worth of Chinese imports.

Zhejiang Hailide New Material ships much of its industrial yarns, tyre cord fabric, and printing materials from its plant in eastern Zhejiang province to the U.S. and other countries.

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