Apple Issues Letter Responding to President Trump’s Proposed Tarrifs

09 September, 2018, 01:03 | Author: Genevieve Gibbs
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Trump's now threatened tariffs on a total of 517 billion dollars in Chinese imports - a figure that eclipses the total amount of goods imported from China to the US past year.

Mr Trump told reporters traveling with him to Fargo, North Dakota that "behind that, there's another US$267 billion ready to go on short notice if I want".

"Our concern with these tariffs is that the US will be hardest hit, and that will result in lower USA growth and competitiveness and higher prices for USA consumers", the company said.

The US comment period on $200 billion of proposed tariffs ended yesterday.

The US has already imposed tariffs on $50 billion in Chinese imports, and Beijing punched back with an equal amount.

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The company said the tariffs would "show up as a tax on United States consumers" and "increase the cost of Apple products that our customers have come to rely on in their daily lives". "That said, the trade relationships and agreements that the USA has between the USA and other major economies are very complex and it's clear that several are in need of modernizing, but we think that in the vast majority of situations that tariffs are not the approach to doing that and so we're sort of encouraging dialogue and so forth".

As for tariffs, White House economic adviser Larry Kudlow told CNBC that the U.S. is still talking to China to resolve some issues.

Four major technology companies - Dell, Cisco, Juniper Networks and Hewlett Packard Enterprise - also wrote to Mr Lighthizer asking to be exempted from new tariffs, saying a 10 per cent to 25 per cent additional duty on networking products and accessories "would cause broad, disproportionate economic harm to USA interests. and broader U.S. economic and strategic priorities".

The presidential tweet is the latest salvo in a dispute between the Trump administration and companies that fear tariffs will hurt their business.

Trump has been locked in a trade dispute with Beijing over China's policy of forcing USA companies to hand over trade secrets, as a price of doing business in China.

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"Risks have increased due to the negative impacts of China-U.S. trade friction".

Apple voiced its concerns about these tariffs in a public filing Friday, arguing that tariffs could make a wide range of products the company is selling to US consumers more expensive.

In addition, the chip industry is a source of trade surplus for the U.S., including with China, Intel argued. 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.

China's exports to the United States rose 13.2 percent in August from a year earlier, accelerating from an 11.2 percent increase in July, the Journal reported based on its calculations from customs data.

"We have the patience to wait and we also have the flexibility to open talks any time". "Lower barriers, open markets, quit stealing IP and technology", he said, using an abbreviation for intellectual property.

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