“Shares of Apple Inc. suppliers fell across Asia on Monday after U.S. President Donald Trump tweeted that the tech giant should make products in the United States if it wanted to avoid tariffs on Chinese imports,” Reuters reports. “Trump’s comment came after Apple told U.S. trade officials on Friday that proposed tariffs by Washington in an escalating trade war with China would affect prices for a ‘wide range’ of Apple items, including the Apple Watch. It did not mention the iPhone.”

“Trump warned on Friday that he was ready to slap tariffs on virtually all Chinese imports into the United States, threatening duties on a further $267 billion of goods,” Reuters reports. “‘People are in a bit of a panic today. Looking forward, the focus would be on how the market reacts after Apple releases its latest models,’ said Kevin Chung, analyst at JihSun Securities Investment Consulting.”

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MacDailyNews Note: On Friday, White House spokesperson Lindsay Walters said in a statement to CNBC, “USTR is conducting a thorough review of public submissions. However, potential scenarios like this only further reinforce the importance of how getting China to play by the rules and fix their unfair practices will be good for the US and global economy.”

I’m cognizant that in both the U.S. and China, there have been cases where everyone hasn’t benefited, where the benefit hasn’t been balanced. My belief is that one plus one equals three. The pie gets larger, working together. — Apple CEO Tim Cook, March 24, 2018

At least half of the popular fallacies about economics come from assuming that economic activity is a zero-sum game, in which what is gained by someone is lost by someone else. But transactions would not continue unless both sides gained, whether in international trade, employment, or renting an apartment. — Thomas Sowell, June 14, 2006

SEE ALSO:
Apple shares dip on report that proposed tariff list covers wide range of Apple products – September 7, 2018
Apple could be used as a ‘bargaining chip’ in the trade war, Chinese state-run media warns – August 7, 2018
Why the US-China trade war may not have much impact on Apple – July 17, 2018
Apple launches $300 million China Clean Energy Fund – July 13, 2018
What trade war? Markets shrug off US-China dueling tariffs – July 6, 2018
U.S. President Trump puts tech in trade war crosshairs with planned curb on China investment – June 25, 2018
The Trump administration told Apple it would not place tariffs on iPhones assembled in China – June 19, 2018
Chinese stocks end at 2-year low, Apple suppliers sink on trade-war concerns – June 19, 2018
Why Apple CEO Tim Cook is acting like tech’s top diplomat – June 18, 2018
Apple CEO Tim Cook doesn’t expect a full-blown trade war between the U.S. and China – June 5, 2018
President Trump and Apple CEO Cook meet at White House with trade the focus – April 25, 2018
Apple CEO Cook to meet with President Trump – April 25, 2018
Why Apple stock can withstand a Chinese trade war – April 5, 2018
Apple CEO Tim Cook heads to China as President Trump orders 25 percent tariffs on up to $60 billion in Chinese imports – March 23, 2018
BoA Merrill Lynch: Apple is prepping a ‘foldable’ iPhone; U.S. and China trade tensions not an issue for Apple – March 23, 2018
Designed in California. Assembled in China. How Apple’s iPhone skews U.S. trade deficit – March 21, 2018
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Analyst: President Trump’s tariff impact on Apple would be just a ’rounding error’ – March 7, 2018