Trump tells Apple to make products in US

10 September, 2018, 03:45 | Author: Eric Barnett
  • Apple shares drop on word tariffs could hit iPhone, Apple Watch & more

The new $267 billion in tariffs would cover the value of all goods the Unites States buys from China, U.S. government data from a year ago show. All Apple has to do is "start building new plants now". "Exciting!" Trump said in the tweet.

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

Reuters reported in July that the Apple Watch was likely to be affected by the tariffs.

The public comment period ended Thursday on proposed tariffs that could range from 10% to 25% on some $200bn worth of Chinese goods, including multiple seafood items, such as re-processed salmon and tuna as well as red swimming crab.

This week, Apple said that a proposed new round of $200 billion in additional tariffs on Chinese imports would raise prices on some of its products, including the Apple Watch and the Mac mini.

Apple also said that computer parts for its USA operations would be hit by the tariffs.

Apple outlined how the company's operations and products will be affected by the tariffs.

When US President Trump first tossed out the idea of starting a trade war with China, there was a serious chance those taxes would impact the prices of gadgets in the US.


Apple CEO Tim Cook didn't sound that concerned about the tariffs during the company's Q3 earnings call.

In the letter, Apple asks the U.S. government to "reconsider these measures and work to find other, more effective solutions that leave the United States economy and USA consumer stronger and healthier than ever before". The tariffs would pressure China to stop that behaviour, the administration has said.

That would cover virtually all the goods imported from the world's second largest economy.

As trade relations between the two countries continue to get strained, Apple said in a letter to the U.S. trade representative that the move would "hurt" the company, according to CNBC report.

China's trade surplus with the US has, therefore, risen almost 15 percent from January to August 2018.

China regularly runs deficits with many of its trading partners that supply oil, industrial components and other imports and pays for those by running a surplus with the United States and Europe. Investors were told that the company was still evaluating the proposed list of goods that would be hit by the tariffs.

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

"Tariffs increase the cost of our USA operations, divert our resources and disadvantage Apple foreign competitors", the company said. "They're taking US$500 billion out a year", he said. The iPhone is Apple's primary revenue driver.

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