“President Trump has threatened to increase tariffs on goods imported from China from 10% to 25%,” Ben Lovejoy reports for 9to5Mac. “He claimed in a tweet that this increase would happen on Friday.”
“It’s previously been reported that 25% is the point at which Apple would seek to move US iPhone production out of China, and that the Cupertino company could face ‘devastating’ retaliatory actions from the Chinese government,” Lovejoy reports. “The Trump administration has so far imposed 10% tariffs on most Chinese imports, with a much higher 25% figure applied to around $50B worth of products. So far, Apple has escaped, but that – according to Trump’s latest tariff threat – is about to end.”
“He made the threat in a two-part tweet, in which he said that not only would the 10% figure be increased, but additional goods which currently escape – which includes Apple products – would also be subject to the new 25% tax,” Lovejoy reports. “Bloomberg has suggested that 25% would be the point at which Apple would seek to move US iPhone production out of China.”
Read more in the full article here.
MacDailyNews Note: Here are President Trump’s tweets on the subject:
For 10 months, China has been paying Tariffs to the USA of 25% on 50 Billion Dollars of High Tech, and 10% on 200 Billion Dollars of other goods. These payments are partially responsible for our great economic results. The 10% will go up to 25% on Friday. 325 Billions Dollars….
— Donald J. Trump (@realDonaldTrump) May 5, 2019
….of additional goods sent to us by China remain untaxed, but will be shortly, at a rate of 25%. The Tariffs paid to the USA have had little impact on product cost, mostly borne by China. The Trade Deal with China continues, but too slowly, as they attempt to renegotiate. No!
— Donald J. Trump (@realDonaldTrump) May 5, 2019
The United States has been losing, for many years, 600 to 800 Billion Dollars a year on Trade. With China we lose 500 Billion Dollars. Sorry, we’re not going to be doing that anymore!
— Donald J. Trump (@realDonaldTrump) May 6, 2019
Original headline: Trump’s latest tariff threat could hit Apple hard, force it to move iPhone production.
MDN Headline: President Trump’s latest tariff threat on China could hit Apple hard.
I certainly remember a lot of obummer headlines lacking the presidential title but I’ve yet to see on where the chump is mentioned without the president attached to it.
Just another incident of possible bias that has made the country what it is today.
This is Trump’s covert way of getting Apple to seriously consider manufacturing their products in the US.
If successful this would be the mother of all accomplishments.
The government is giving all these companies tax breaks with nothing to show for it.
China’s population is massive which means they are far
More likely to suffer from tariffs than the US. I say bring on the tariff war 10 folds.
Based on the way Trump appears to think while sitting
at the negotiating table he may intentionally go off topic
and attempt to make the north korea problem a negotiating tool.
🇺🇸MAGA 🇺🇸
Trump uses twitter to tell Apple to fire Foxconn and build new plants in the USA? Too bad he was too deaf to listen to the Ivanka photo op councils when Tim Apple was in the room. Timmy knows the Trumps will be gone in 2 years.
Trumpanzees should take matters into their own hands and stop buying anything with a Made in China sticker. Turn in your Mercedes, too. Donny doesn’t like high quality German cars like the ones Jobs drove.
Botty, you are back! I was worried when you went quiet for quite a long time. Nice to see you again.
I don’t know about the chump being covert, he strikes me as a pretty direct sort of guy, but when it comes to war, yup it’s mission accomplished for the war mongering addicts from Apple’s home country.
Nobody’s going to suffer from tariffs if they find other places to trade their wares, and they will, though I suspect in this case there will be a deal eventually.
Yes, we will wage war on your pathetic country for not paying your fair share of NATO.
U.S. citizens in our great nation are fed up paying for you liberal weeines without a spine or military.
BTW clueless, that’s not the real Botty. Faked intelligence and no wit is the dead giveaway. Not to mention the missing Yankees avatar. Most likely the dishonest village idiot Citizen Zero up to his old tricks…
The US pays 26% of the NATO budget. The “liberal weenies” pay the other 74%.
Not to mention that a deal has been worked out in NATO. Greece, Estonia, and the UK pay more than the recommended about. You don’t here those countries crying like whiners and threatening war. After all they are smart enough to figure out that if you don’t like the club, leave.
At any rate, I’m sure that war by Apple’s home nation on a NATO member will prove as successful as that search for that weapons of mass destruction program in Iraq, so by all means, bring it on.
So you are saying we pay a quarter of their defense budget? I don’t think this is the point you intended
No, I am saying that only 26¢ out of every dollar that the North Atlantic Treaty Organization lists in its annual budget comes from the US, with all the rest coming from the other members. To the best of my knowledge, there is no NATO member that has failed to pay its requested contribution. Thus, GeoB was incorrect in saying that anyone is not “paying their fair share of NATO.”
As a separate issue, the members have adopted an aspirational goal that each nation should increase its own internal military spending until by 2024 it is spending two per cent of economic output on defence. As you may have noticed, it won’t be 2024 for five years yet, so there are currently no countries who have failed to meet that goal, either.
Some countries already have defense spending at that level, others are on schedule to meet the goal, while others almost certainly won’t. When that happens, GeoB and his idol can rightly claim that those nations are paying less for their own defense than they had agreed. Until then, it is premature to claim that they are acting unfairly.
I think by “fair share” he was implying they should pay for all of it themselves.
We don’t need to defend Europe anymore.
A base in Poland, Germany and England should take care of our need to project power against (Eastern) Russia.
Towertone thinks the North Atlantic is 100% European. Got it. Let’s not look at all the Pentagon waste before your very eyes.
So tell the rest of the class what liberal weenie nation pays more than the U.S.?
Answer, NONE!
This is your perennial problem dishonest USER. You always imply something sinister during the Trump administration and leave out the full story…
G
I wasn’t attributing any sinister motive to the Trump Administration. I didn’t even mention the Trump Administration. I was simply trying to correct your untrue statement with actual facts. Of course the US is the largest single contributor to NATO, because it is both the wealthiest member nation and the one with by far the largest defense budget. What about that suggests that the countries that are collectively contributing almost three-fourths of the NATO budget aren’t paying their fair share? Would you prefer a financing scheme like the Internal Revenue Code where a retired government employee like me pays more in federal taxes than a New York real estate billionare?
Are you suggesting MDN is anti Trump? If so you clearly haven’t read a lot of their opinion pieces which suggest anything but.
MDN’s opinions flag whatever way the wind blows. Today the biggest windbag on the planet is Drumph, a con man who inherited his wealth and corrupt ways from his daddy. Fiddling on Twitter while infrastructure in Modern Rome crumbles. Haven’t heard an intelligent conservative proposal for anything in decades, but we get endless doses of SteveJack’s FirstDickwad brainless propaganda.
On the contrary I think they are very pro the chump, i.e. they referred to the previous president obummer very rarely as “president” while the current one is referred to as “president” to the point where I can recall any headline say just chump or the chump administration.
Blustering senile man-baby has no clue. Doesn’t even listen to his own corrupt bunch of sycophants.
“I support the Great Lakes. Always have. They are beautiful. They are big. Very deep. Record deepness, right?”
What is even worse is his stupid body language and intonation as he spouts this drivel. And no, they don’t have “record deepness”.
Trump just said “my father is German, was German. Born in a very wonderful place in Germany, and so I have a great feeling for Germany.”
Fred Trump was born in New York.
“Windmills. Weeeee. And if it doesn’t blow, you can forget about television for that night. ‘Darling, I want to watch television.’ ‘I’m sorry! The wind isn’t blowing.’ I know a lot about wind.” (Fucking idiot.)
“take a look at the oranges, the orages of the investigation … the orage … … … the beginning of the investigation”
This stuff above looks like it is straight out of a stand-up comedy routine.
Anyway – seriously – what the heck is he whining about? Really. In terms of nominal GDP, the US has been the world’s biggest economy since 1871. China has more than four times the population but a similar sized economy.
I’ll take the all time record economic numbers and overall economy of Trump any day over Obama…
The corrupt clown doesn’t even understand that it’s not China who pays tariffs to the USA, it’s American consumers who pay them to the retailer at retail. If Trump’s tariffs go through, he’s effectively raising prices Americans must pay on consumer goods imported from China.
I didn’t like everything Obama did. But I never for one moment thought he wasn’t smart or didn’t understand the issues he had to decide, or wasn’t trying to do what he believed to be in the best interest of the United States. But I wouldn’t hire Trump to park my car.
What makes you think President Trump is willing and could be bothered to lower his standards to park your car, hmmm? The egomaniacs of the left never cease to amaze me…
Trump’s standards cannot go any lower. You hated his predecessor with a passion, apparently he was to dignified. Trump gives the alt right cover to blanket the internet with intolerance and xeno propaganda. Who’s the Christian again?
too
….otherwise perfect as usual Mike. It is so easy to spot Goeb and his Trump worshipping ilk in hypocrisy after hypocrisy and lie after lie !
Oh the irony
I haven’t heard anything yet that won’t somehow hurt Apple. Apple seems to be quite vulnerable to everything that happens in the global economy. Things that barely affect any other tech company usually is said to hurt Apple in some form or fashion. Oh, well… there’s nothing I can do about it. I’ll just collect my Apple dividends and get on with my life.
But where is F2T2 or GoeB??? These pro-Trump goofballs never seem to be around when one reads article in which Trump actually HURTS the economy.
Just today, HUNDREDS former justice officials said that Trump would have faced charges if he wasn’t protected by being president.
Can anyone be clearer than that?????
IImpatient one, this is only the beginning…
Impatient, to be clear.
Charges for what exactly. I don’t read you having any problem with Hillary uranium deals, Russian oligarchs paying hubby Bill half a million dollars for a speech and President Obama caught on a hot mike with Putin I can do deals after the election. Guess you also missed the famous video of Obama laughing off Russian interference in the upcoming election. No problem with that hypocrite partisan one? Of course not, STANDARD liberal MO…
Do you even listen to yourself, GeoB? Whether some guy who was President sixteen years ago was a bad guy is logically unrelated to whether the current President is a good guy. Stalin and Mao arguably each killed more people than Hitler, but that isn’t an argument proving that the Third Reich was evil. The two assertions are completely independent of one another. Some guy who left public office in 2001 does not justify the outrageous and constitution-bending conduct of the guy there now. One might have been a threat to our Republic in the 1990s. The other is a threat right now.
Read The Art of the Deal before commenting on current U.S.-China negotiations lest you sound as illogical and uninformed as a Democrat.
“Trump makes one believe for a moment in the American dream again.” —- The New York Times, 1987
“Donald Trump is a deal maker. He is a deal maker the way lions are carnivores and water is wet.” —- Chicago Tribune, 1987
Since 1987, there have been six separate bankruptcies of the Trump Hotel and Casinos, plus the failure of the Trump Shuttle, Trump University, Trump Foundation, and most of his licensing deals.
For Dump everything’s personal – what a mental to have 4 potus!
How much will China’s rape of our economy cost this year alone? Hundreds of billions. Something needs to happen for this imbalance to get corrected.
When I walk into a grocery store, I pay them $100 in cash and get $100 in food that I regard as more valuable to me than the cash. When Americans do business with China, they pay cash for goods and services that they regard as more valuable to them than the cash. The imbalance in cash flow does not reflect an imbalance in value.
Neither the grocery store nor China are sewing the money into mattresses. They use it to buy other goods and services, thus stimulating the international economy, including the US economy. Similarly, the purchaser of goods uses them to facilitate economic activity (you cannot work unless you eat; you cannot build cars without parts), thus further stimulating the general welfare.
Economics is not a zero-sum system where the grocery store can only gain if you lose or the US can only gain if China loses. Both sides gain from free trade and a healthy global economy. Nations that do not understand that (like the US at the time of the Smoot-Hawley Tariff Act) wind up with a cratered economy. National economic collapses propagate into world depressions, and those generate world wars.
Yes, China does engage in many unfair business practices that need to be controlled, but the trade imbalance is not as big an issue as nationalists make it out to be.
“Yes, China does engage in many unfair business practices that need to be controlled“
Yes, we AGREE. But you offer NO remedies as usual FAKE conservative…
Whatever the solution is, it isn’t to raise taxes (that is what tariffs are) on American citizens and companies importing foreign goods.
You’d announce right up front “I will impose no Tariffs”… then you enter negotiations to get the other side to reduce theirs. Let me know how that works out.
Here’s a better idea: rather than blasting out tweets to low info citizens of your own country, how about first reforming and strengthening the WTO. Then bring the EU, Japan, India, South America, and Africa to the table in lock step with you. If China refuses to reform, then all nations notch up tariffs on China together, and lower tariffs between themselves. It’s been done before many times successfully.
Is there a reason neocons have suddenly decided to adopt isolation instead?
Goeb, you’re awfully quick to throw stones from your glass house. There have been many proposals for fair trade with China, but you prefer to play partisan politics than to work with anyone outside your red team to achieve a pragmatic solution.
Here’s my modest proposal:
1) Work with international organizations to strengthen trade standards enforcement so that ALL COUNTRIES play by the rules. It does no good to pick a fight with China when 200 other countries are willing to buy what Trump taxes.
2) Encourage developing nations to adopt higher standards for labor, education, and environment through trade incentives, with improvement being measured and published for all to see.
3) Ensure all products are properly labeled for the end buyer to see exactly where it came from, how/of what it was made, etc. These days clothing is better labeled than some pesticide-laden foods that cross borders.
4) Support much stronger transparency laws governing international money flows, clamping down hard on complex money laundering schemes. For example, ban the practice of a company magically changing the value of nonperishable goods (like tech IP) it transports from one port to the next.
5) Increase US participation in world economic development and crime prevention instead of building indefensible symbolic barriers.
6) Get all unidentified anonymous money out of politics.
7) Require all meetings between lobbyists and US government officials (foreign and domestic) to be videotaped and available for the public to view.
8) Never conduct international diplomacy via Twitter or social media. Always publish complete transcripts of negotiations after deals have been signed.
9) Impose no unilateral tariffs or quotas on entire industries or commodity markets; enforce fines for noncompliance directly on the offending company for direct impact.
10) Actively deny US corporations from entering into any deals with a foreign nation that engages in hot war or cyber warfare — that list obviously should be extended to include Russia, Saudi Arabia, North Korea, China, and others.
11) Tax all financial transactions conducted with a foreign currency manipulator, using objective international transparent measures.
12) Congress must pass a constitutional amendment to restrict two forms of corruption: a) the unilateral power of the president to conduct trade war and tariffs without congressional oversight, and b) mandatory term limits for Congress, starting in 2 election cycles from now.
13) Restrict domestic companies from exporting of raw materials, fossil fuels, and other strategically important resources.
14) Get serious about crime syndicates. The US has plenty of intelligence showing who the international crime lords are. The USA should be proudly funding police organizations (like NATO) to take the lead in blowing up international crime lords. The US cannot afford to do it alone.
15) Consult with companies like Apple, before open doors, why specifically they outsource production to China despite China actively stealing their IP and exerting excessive governmental influence on the products and services it is allowed to offer. Identify what rule changes are necessary to get US corporations to maintain their crumbling factories in the US.
16) Create one simple new rule for all corporations to take effect in 5 years: No worker in any company over 500 people in size is allowed to take home in any calendar year a total compensation in current real value greater than 50 times what the minimum total compensation is offered to any full-year employee of that company or any sub-supplier to that company. A ratio of 50 is more than enough to incentivize managers to work hard and will disincentivize the creation of globetrotting sweat shops. If the overhead to calculate this simple ratio is too difficult, too bad. You shouldn’t have to resort to dozens of convoluted shell companies in order to hide corporate wealth. Fines should be severe and should be earmarked for US debt reduction only. Firings and re-hirings of low-wage employees in order to avoid compliance shall result in criminal prosecution of corporate executives.
In this manner — getting tough with the actual offenders of fair trade — the whole world, and the US, could prosper. Barriers have not ever worked before.
So Mike tell me, did you get this idea from the Obama White House or the Clinton Initiative? Which one was more serious about trade with China than Trump??
I’m very curious.
WTF !?!?!?! Who cares where ideas originated, Mike offers excellent proposals. Why can’t you righties accept good inputs when they are offered to you? Trumpists are wacked.
@Bigz: don’t buy Chinese stuff then. Your freedom, your choice.
It is ironic that Americans are just now waking up to the fact that corporations have been hollowing out the country for 30 years and counting. Apple being a prime example. All of Trump’s bluster hasn’t fixed a damn thing. All he can do is make your next Apple gadget even more expensive than it already is.
So if this happens, Apple will possibly move manufacturing back to the U.S.? And this is bad why????
Incentives to make US corporations invest in the USA are gladly welcomed.
Angst ridden tweet shaming with threats of tariffs that US consumers and small manufacturers have to pay is not welcome because it is not effective. Worse than effective, actually, because it harms honest trading partners too. Do you like to do business with someone who wants to change the deal unilaterally via Twitter?
The only ones happy with Trumps handling of the economy are the billionaires and executives who reaped massive tax cuts, and the dumb sheep who believe that they also got a sizeable permanent tax cut.
As others have previously pointed out, Trump is just the puppet who signed into law the biggest transfer of wealth in US history, from the working class to the billionaire class. The debt, even by the Trump administration’s own rosy projections, is dire and rapidly worsening toward WW2 levels. Problem is, the postwar boom will not be repeated.
So why can’t the right wing extremists admit this is a serious threat to US sovereignty? Nobody can blame 50 years of deficit spending solely on Obama even though the extremists always attempt to do so. At some point there has to be a fiscally responsible party. Neither one is today, and Trump is perhaps the worst of all, wasting time tweeting and demanding more militarization and isolationist fences when the nation needs spending cuts and efficiency gains. One party rule works in China only because the citizens accept zero freedom in exchange for world-domineering government will to play the long game towards economic and military supremacy. In the US, a bipolar electorate ensures gridlock so nothing gets done efficiently and supremacy is rapidly deteriorating. infrastructure is literally rotting before our eyes.
Trump is doing nothing but distract the lower classes from where the money is going. Buffet and Cook are gleefully lining their pockets.
Hundreds of billions in stock buybacks, tens of millions in executive compensation, a million at most for Mac development, and nothing for the Chinese workers who assemble almost everything. Modern Feudalism. Apple does it this way, all US corporations do it this way. Don’t be distracted by the Trump crusade. He hasn’t conquered the holy land yet, no corporations have changed anything.
A large part of the (UK, and US) are anti union anti worker and will sell out at the drop of a hat, what is the cure for that?
Apple is most likely to move manufacturing to Vietnam or India (where Foxconn is looking to establish a factory).
If it does move manufacturing to the US, it will all be done by robot, so we won’t gain any jobs.
Argue all you want both sides: liberal vs conservative, left vs right, blue vs. red, the market makes its decisions, and the market has clearly made its decision known: it thinks Trump’s China’s tariff decision is stupid and economically destructive. It hurt Harley Davidson, an iconic American brand, and this tariff will only hurt Apple.
So praise Trump all you want. The market has spoken.
Trump, pulling numbers out of his wide ass in Nov 2018 when announcing unilateral tariff hikes and then speculating what the Chinese response would be: “Depends on what the rate is,”(referring to mobile phones and laptops) “I mean, I can make it 10%, and people could stand that very easily.”
Apple immediately groveled before Trump and received an exemption. Instead other smaller companies and consumers paid additional costs to cover the tariffs on $250 billion worth of Chinese imports in the last 10 months (some at 25% tariff rate and some at 10%, randomly selected by der Fuhrer Trump). China has roiled the US agricultural industry with retaliatory tariffs, with soybean prices dropping 15% in 2018 harvest season. Lo and behold, despite their supposed hatred of government welfare, the agricultural working class has begun receiving $12 Billion in Trump government bailouts to stay afloat. https://www.bbc.com/news/business-44945112
Senator Rand Paul, a Kentucky Republican, tweeted on Tuesday: “If tariffs punish farmers, the answer is not welfare for farmers. The answer is remove the tariffs.”
Senator Ben Sasse, a Nebraska Republican, said in a statement: “This trade war is cutting the legs out from under farmers and White House’s ‘plan’ is to spend $12 billion on gold crutches.”
Now here we go again, Trump wants his massive ego stroked. Despite delays and claims of successful negotiations, it is now clear that the Trump team has made zero progress in resolving trade disputes, and in typical Trump fashion, he’s alienated all friends so there is no one else at the negotiating table pressuring China to stop their trade corruptions. US stocks reacted this week with the second largest drop of the year (so far)because, duh, the market doesn’t trust Trump. AAPL dropped 2.7%. Nobody in their right mind should. Con man doesn’t have any cards up his sleeve, he’s just bluffing against a nation that has 3 times as many people as the US.
Oh, how about an update on what the US does manufacture (well, assemble) inside its borders? New car sales dropped 2.3% in April, the lowest month since Feb 2014.
For an economy that is supposedly “winning”, this doesn’t sound great for agriculture or US manufacturing. Good think Cookie got his tax exemption, he can buy back more stock. Is the American middle class supposed to cheer these gross market manipulations?
I see a LOT of people talking about how stupid Trump is, that he is costing the Americans SOOO much money. Has he taken more than China steals every year?
What is the alternate plan? Show some proposals.
I guess you can be obscure like Mike and say “work with other countries” but that always turns out to be the easy way out and nothing is settled.
It’s not that I am such a fan of President Trump, it’s just finally someone is doing something about issues I have cared a lot about for decades. Meanwhile, the Left doesn’t care if it helps in the long run, just score some short term political points and make sure the media is on board to report it that way.
And you all WONDER why your patriotism is called into question?
Grow a pair and learn to argue when you have a point.
Since you have no clue how the WTO works or how it can be improved, and you reject concrete proposals when they are given, it’s clear all you want to do is cheerlead while Trump bangs his head against his shiny new wall. China will gladly buy and sell with other countries, they don’t need the USA.
As America’s postwar military dominance fades with insanely rising debt, Americans are going to have to come to the realization that 5% of the worlds population is not going to be able to dominate world trade in the future. America needs friends more than ever. Trump has driven them all away.