Wednesday, 19 December, 2018

Trump’s Chinese Tariffs Target Consumer Electronics, Including Sony and PlayStation

Apple Stock Drops as Trump Discusses Potential iPhone Tariff Trump says he expects to raise tariffs on US$200b of Chinese imports to 25%
Kelvin Reese | 28 November, 2018, 07:13

And if an upcoming round of trade talks with China doesn't resolve trade tensions, Trump said, he might put tariffs on the Chinese imports that have avoided them so far.

The issue is the biggest looming over Trump's visit to Argentina, with the two economic giants locked in exchanges of punitive tariffs and Washington effectively threatening to impose sanctions on all remaining Chinese imports, including Apple products made in China. "Maybe. Maybe. Depends on what the rate is", he said.

Trump has already imposed tariffs on more than $250bn in Chinese goods - about half of the total imported each year - in an attempt to pressure the country to change its trade rules.

The European Commission, which oversees trade policy for the 28-member European Union, declined to comment on the report in general, but did say that Wirtschaftwoche's reference to EU Trade Commissioner Cecilia Malmstrom heading to Washington on Wednesday was not correct.

Other Apple products assembled in China, like AirPods, the MacBook Pro, iPad, and Apple Watch, could also be subject to the new tariffs.

The price of an iPhone ranges from $449 to $1,449 in the US, including older models such as the iPhone 7 that Apple still sells. At 25%, the hit to Apple's earnings would be $3.8 billion. RBC also lowered its price target on the stock to $235 from $240.

Ohio State Climbs To No. 6 In Latest AP Poll
The next five in the rankings probably don't have a chance at making the playoffs unless a freakish chain of events happens. Knox went down with a foot injury in the win against MI and won't be able to recover quick enough to play a week later.

Shopper saw man firing shots at woman in Walmart
The Ocala Star-Banner reports that the woman and the shooter had been dating for nine months, but had recently broken up. He told the Star-Banner that the victim was a roommate and they went to Walmart to buy furnishings for their apartment.

Migrants enveloped in tear gas after pushing past blockade at US border
The US Customs and Border Protection agency said traffic in both directions was suspended at the San Ysidro port of entry. More than 4,000 migrants are already in Tijuana on the Mexican side of the border, with more on the way in caravans.

Apple shares were up 1% this year.

The duties are due to rise to 25 percent at the start of next year - something United States companies and markets are hoping can be averted. Slapping Apple with 10% tariffs might lead to one of two things - either Cupertino moving part of its manufacturing to markets like Taiwan and Vietnam, or the more likely variant of increasing the phones' prices accordingly. Earlier this year, Apple said products like the Apple Watch and AirPods would be affected before the US said it wouldn't impose taxes on such items.

U.S. -Russia relations are under huge strain, while Trump is under investigation at home for alleged collusion with Moscow during his 2016 presidential election win.

China has retaliated but has less room to manoeuvre as the USA buys much more from China than it exports there.

The first major casualty of the China-US trade war is getting "back into business, fast" according to the president of the United States. But White House aides were still planning for the Putin meeting after Trump's comments.

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