Trump urges Ford, Apple to intention in U.S., not China

13 September, 2018, 03:44 | Author: Eric Barnett
  • Despite Trump tweet, Ford says it won't make hatchback in US

The Trump administration has already imposed 25% tariffs on $50 billion worth of Chinese goods, meant to punish Beijing for alleged unfair trade practices and intellectual property theft.

"Start building new plants now".

European stock markets rose and Wall Street was expected to open higher on Monday, despite a drop in Asia, where investors fretted over the possibility of new and bigger USA tariffs on Chinese goods.

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 a year ago.

In its letter this week to the Office of the U.S. Trade Representative, Apple said that "because all tariffs ultimately show up as a tax on United States consumers, they will increase the cost of Apple products that our customers have come to rely on in their daily lives".

Ford has rejected President Trump's call for it to shift production of the Chinese-made Focus Active crossover-style hatchback to the US, after announcing last month that it would not import the model due to tariff concerns. Mr. Trump took to Twitter Sunday to give an clarification for victory and write: "Right here's precise the origin". The plan, said industry analyst Ed Kim of AutoPacific, was to pare down the Focus lineup to Active wagons and import them from China.


"Our concern with these tariffs is that the United States will be hardest hit, and that will result in lower U.S. growth and competitiveness and higher prices for USA consumers", the company said. China has warned that it would retaliate with import taxes on $60 billion worth of US goods. Apple said such import duties would raise consumer prices for various products, including the Apple Watch, AirPods, cable and chargers.

"We believe the USA equity market reflects an expectation of additional tariffs", Goldman Sachs analysts said in a report dated September 8. The US imported $505 billion in goods from China previous year.

For the Focus Active, the tariffs on Chinese vehicles changed everything.

Trump's previous commendations of companies' investments in the USA were usually based on corporate press releases heavy on fluff and a recycling of existing expansion plans, but they at least had some sort of factual underbelly, however strained. Kristin Dziczek of the Heart for Automobile Learn acknowledged that Ford can intention Focuses "in many other plant life round the arena, so within the occasion that they made up our minds to proceed to promote a Focus variant within the US market, there are plenty of alternatives rather then building it within the united states."In April, Ford announced plans to cease making autos within the united states - aside from for the iconic Mustang - and to point of interest on extra successful SUVs".

Exports to the United States in August rose 13.4 percent to $44.4 billion, ticking up from July's 13.3 percent growth.

That's telling, and betrays a flawed logic that is rather worrisome as Trump contemplates tariffs on US$267 billion ($408.8b) of Chinese goods in addition to the US$200b of levies his Administration looks set to put in place soon.

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