Economy

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

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

Traders were bracing for a potential escalation in the Sino-U.S. row after President Donald Trump raised the stakes on Friday, saying he is ready to impose tariffs on virtually all Chinese imports to the United States.

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. Recently though, the Trump administration, as a part of its trade war with China made a decision to impose a heavy 25 per cent tariff on all cars imported from China.

Today, however, apart from contradicting Trump, Ford said that it would be adding hybrids, trucks, electric models, and utility vehicles to its US lineup, in an effort to hit the 10 profit percent margin. Ford confirmed to The New York Times that it will not build or sell the Focus Active in the United States.

Trump admitted on Twitter that the price of Apple products will increase because of his tariffs on China. It stopped making Focus sedans at a Wayne, Michigan, plant in May.

The company said tariffs would hit "a wide range of Apple products", including computers, watches, adapters, chargers and tools used in its US manufacturing, fix and data centers.

Apple might increase USA production in the next 5 - 10 years, but it will still remain a small part of its manufacturing footprint.

"Tariffs increase the cost of our USA operations, divert our resources, and disadvantage Apple compared to foreign competitors".

Ford also wouldn't want to spend millions on equipment to build the Focus Active here because at low sales volumes it wouldn't get a good return on its investment, Dziczek said.

"The burden of the proposed tariffs will fall much more heavily on the United States than on China", Apple said in its letter. More broadly, tariffs will lead to higher US consumer prices, lower overall USA economic growth, and other unintended economic consequences.

"The margins are very slim", Dziczek said. It's too costly to build that auto here and they weren't planning to. The companies are producing Apple's AirPods wireless headphones, antennas and enclosures for iPhone and other products for the firm. In January, the company also announced its "direct contribution" to the USA economy through investments and other spending would exceed $350 billion over the next five years, while it would establish a new Apple campus to house technical support for customers.

The world's two biggest economies are clashing over USA allegations that China deploys predatory tactics - including outright cybertheft - to acquire technology from U.S. companies and challenge American technological dominance.



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