Trump Is Predictably Backstabbing Apple On Tariffs

Workers pack tinned peaches for export at a fruits processor in Huaibei city in central China's Anhui province. — AP

Workers pack tinned peaches for export at a fruits processor in Huaibei city in central China's Anhui province. — AP

On Saturday, he posted a tweet suggesting Apple should move its production facilities to the U.S. Trump took to Twitter Sunday to declare victory and write: "This is just the beginning".

Ford last month said it was scrapping plans to import the Focus Active crossover from China because of the steep 25 percent tariffs Trump has imposed on China, where the vehicle is built, would make it impossible for Ford to hit its profit targets. Simply put, establishing a local production of the vehicle would not make a successful business case.

Over the weekend, President Trump acknowledged via a tweet (how else) that Apple might raise prices on some of its products as a result of the president's proposed $200 billion tariffs on China.

With Ford joining Apple in criticizing President Trump's tariffs, the pressure on the administration to back down and de-escalate the trade war is perhaps greater than ever. Make your products in the United States instead of China.

Apple directly employs at least 80,000 people in the USA and has more than 9,000 U.S. suppliers maintaining manufacturing operations across 38 states, the Wall Street Journal reported. The company is making iPhone display glass in Kentucky, and is setting up new plants in other areas. That helped fan concerns of trade tensions between Asia and the US, which led many Asian markets lower.

"It is hard to see how tariffs that hurt US companies and USA consumers will advance the Government's objectives with respect to China's technology policies".

The company announced late last month that Trump's decision to implement steep tariffs against China undermined the profitability of the new auto, which the company had initially planned to ship into America for sale next year. "Exciting!" Trump said in the tweet. "As a result, tariffs will ultimately reduce the economic benefit we generate for the United States", Apple said.

"Semiconductors are America's fourth-largest export, and our industry has a global trade surplus of over $6 billion and a surplus with China of close to $2 billion in 2017", Intel's letter said. These tariffs have since been extended to an additional $16 billion in Chinese goods and in the near future, will be applied to another $200 billion in goods.

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