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Another $267B China tariffs ready to go after $200 already announced

Another $267B China tariffs ready to go after $200 already announced”

On Apple's most recent earnings call in July, Chief Executive Officer Tim Cook said the company could face such tariffs "related to data centers". The U.S. Trade Representative's office received almost 6,000 comments during the public comment period on the proposed levies, which ended Thursday night.

For him, tariffs could potentially be positive, depending on which items remain on the massive list of products the Office of the United States Trade Representative has said could be affected if the next round of tariffs on imports from China is implemented.

U.S. President Donald Trump speaks to the press aboard Air Force One on September 7, 2018.

Major technology company Apple Inc said a "wide range" of its products would be hit by the tariffs, but not its iPhone. That would mean penalties cover nearly all goods from China sold to the United States.

While China's response to US demands has been unsatisfactory, Trump is still speaking to Xi, and would be open to meeting in person, said Kudlow, director of the White House's National Economic Council.

Trump has boasted that trade wars are "easy to win" and warned he would hit virtually all Chinese imports if Beijing does not back down and take steps to reduce its $335 billion surplus with the US. Lighthizer has been trying since last week to reach a deal with Canada on a revised North American Free Trade Agreement with Mexico, and he heads to Brussels on Monday to meet with European Union officials to discuss the outlines of a trade deal announced in late July. The US products targeted by China include coal, copper scrap, fuel, buses and medical equipment.

There was no indication in the comments made by Trump on Friday as to which items would be targeted in a future round of tariffs, as most seafood products imported from China already have been slapped with higher tariffs. If that pace continued for the remainder of this year, Chinese imports would top $548 billion - leaving Trump a bit short of complete coverage of Chinese goods.

Earlier this year, the Trump administration imposed a package of tariffs on $50bn of incoming Chinese-made parts used for "aerospace, information and communication technology, and machinery".

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

The country's trade surplus with the U.S. Beijing has threatened to retaliate with duties on $60 billion in American products.

"The Chinese aren't paying these tariffs, American families are going to pay these tariffs. We want lower (trade) barriers across the board", Kudlow said. As a kind of nuclear option, it could sell off trillions' worth of U.S. Treasuries it holds, although that could hurt China as much as the United States.



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