Donald Trump warns China he won't back down on trade tariffs

Donald Trump warns China he won't back down on trade tariffs

Donald Trump warns China he won't back down on trade tariffs

China has not agreed to US President Trump's new trade parameters, and as a result, Trump is threatening an increase on the current tariffs and the addition of new ones. Of course, Apple is far from the only USA tech company to be potentially affected, though it's certainly among the most high-profile. He declined to say what other USA officials will join Trump in the session.

The World Trade Organisation has revealed tariff measures imposed by G20 countries have reached record highs and now cover $481 billion worth of global trade. Consumers are likely to feel a bigger pinch in 2019.

Approximately half of all Chinese imports to the USA have been subject to a 10 percent tariff since September, but if upcoming trade negotiations between the United States and China don't work out, the tariffs could be expanded to all imported goods from China.

Silicon Valley in particular seems to be bracing for more tariffs. It could also make prices on the company's latest devices, which are higher than usual, even higher.

Trump thinks his tariffs are paid by exporters, referring to the money "pouring into our treasury right now". Some experts fear that could cost hundreds of thousands of American jobs and raise US auto prices by roughly 10 percent.

The EU and US suspended potential auto tariffs in a truce announced over the summer, but that deal may not hold much longer, some observers predict.

These include, the USA alleges, hacking into US firms' computer networks to steal trade secrets and demanding that American and other foreign companies hand over technology in exchange for access to the Chinese market.

The plant closings and layoffs announced by General Motors this week are putting another spotlight on the issue of tariffs.

Trump said that the next round of Chinese tariffs will be on consumer electronics coming in from the country.

Mr. Trump noted the possible auto tariffs as a negotiating tool with the European Union in The Wall Street Journal interview.

"I'm not here to critique or second-guess the Chinese economy, but most observers believe China to be in a slump, whereas the United States is in a very strong, solid position going into this summit", Kudlow said.

"I don't want to go overboard, but he's indicated some optimism. And then the next day he was there at about 7:00 in the morning".

U.S. President Donald Trump suggested that 10 per cent tariffs could be placed on mobile phones, like the iPhone and laptops made in China, dealing a potential blow to Apple Inc.

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