China will be forced to take necessary countermeasures if the United States insists on imposing new tariffs on $200 billion worth of Chinese goods despite strong opposition from both countries, the Ministry of Commerce said on Thursday.
China's trade surplus with the United States ballooned to a new record $31 billion in August despite a raft of U.S. tariffs, official data showed Saturday, adding fuel to the flames of a searing trade war.
"That totally changes the equation", Trump said. It makes many of its products for the USA market in China, and it also sells gadgets including the iPhone in China, making them a potential target for Chinese retaliation against the Trump tariffs. Tariffs are also proposed on finished fabric products made by Chinese companies that directly compete with Rockland's finished offerings in the USA market.
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.
In the letter, Apple says the tariff list "covers a wide range of Apple products and the products used in our U.S. operations", including the Mac Mini, Apple power adaptors, cables, the Apple Watch, the Apple Pencil and Air Pods.
Professor Yu Miaojie, deputy dean of Peking University's National School of Development, also felt that tariffs on US$267 billion of Chinese goods would be quite unlikely.
"There is still an impact from front-loading of exports, but the main reason (for still-solid export growth) is strong growth in the USA economy", said Zhang Yi, an economist at Zhonghai Shengrong Capital Management.
Apple also said that computer parts for its USA operations would be hit by the tariffs.
Hawaii on edge again as Hurricane Olivia heads for the islands
As a result, a Hurricane Watch and Tropical Storm Warning are in effect for the Cabo Verde islands of Santiago, Fogo and Brava. Now a Category 1 storm, Olivia was about 825 miles east northeast of Hilo, Hawaii as of 11 p.m. local time Saturday (5 a.m.
US-China trade row: What has happened so far?
Apple is among the most vulnerable US companies amid rising trade tensions, trade experts say.
Trump's decision to double-down on his uncompromising stance toward China means little chance of an early resolution of the standoff between the world's two largest economies.
The administration has a greater goal than just driving down the yawning trade deficit with China - to force Beijing to open up its market to American businesses, and curb its acquisition of American technology.
China's exports and imports rose at a sharply slower pace in August, but its global trade surplus remained stable at Dollars 27.9 billion amid a heated United States trade war, official figures showed Saturday. Intel Inc., Cisco Systems Inc. and others argued in their filings that the tariffs could hamper US competitiveness in 5G, an emerging wireless technology the White House has set up as critical to national security.
ANALYST'S TAKE: "The market is risk-off and pricing in the effects of new tariffs".
The presidential tweet was the latest salvo in a dispute between the Trump administration and companies that fear tariffs will hurt their business.