Markets

Apple can avoid tariffs by shifting production to US

Apple can avoid tariffs by shifting production to US

Investors look at an electronic board showing stock information at a brokerage house in Shanghai, China September 7, 2018.

Trump tweeted on September 8 that Apple should build new manufacturing plants in the U.S. to avoid tariffs on Chinese imports that the United States government is planning to introduce. On 6 July the U.S. began imposing a 25% tax on $34bn in Chinese imports, including motor vehicles.

In a tweet on 08 September, Trump said that if Apple wants to avoid tariffs on its products, it should make those devices in the U.S. rather than China.

Apple said its MacMini, a low-cost computer that comes without a keyboard or mouse, would be affected.

Worth noting: Munster's take is also that Apple, which earlier this year committed to investing $350 billion in the U.S.in the coming years, still remains in good standing with the Trump administration.

"This forces Ford to forfeit the sales they would have had if they could continue to import that low-volume niche vehicle", Gabrielsen said. Trump has threatened tariffs of up to 25 percent on autos and auto parts.

While Asian markets declined on fears about Trump's tariffs, USA stocks began the week strong, with major indexes rebounding from the previous week's losses. China, on the other hand, has never been more ready as ever to retaliate on the Western powerhouse, especially on a number of United States companies operating within its borders, a report from Reuters said.

Congressional Republicans plan to unveil another round of tax cuts this week ahead of the November 6 elections, helping support US equities. The tariffs would pressure China to stop that behavior, the administration has said.

Agilent Technologies said the increased duties would financially impede its USA operations and its end customers in the US and overseas.




"The days of the U.S. being ripped-off by other nations is OVER!" he wrote.

Wei Jianguo, vice-president of the China Center for International Economic Exchanges, said China has no intention of challenging USA global dominance, adding that it will certainly take a long time to reduce its reliance on the US.

Office Depot said the tariff proposal, which covers non-household seating and furniture it sells, would lead to enormous supply chain disruptions and a likely loss of jobs. The company has not announced plans to move manufacturing from China to the U.S. A range of speakers and earphones and more Apple products-from iPhones to iPads-could see higher price tags if additional levies are imposed.

They also said consumer goods targeted under tariffs do not come under the scope of "Made in China 2025" program.

Apple revealed last week that some of the proposed tariffs would hurt the profitability of Apple Watch, AirPods, HomePod and Apple Pencil. Faster US economic growth also pushed up demand, Gai said.

But Ford had originally planned to bring the small crossover vehicle to the USA market beginning in late 2019.

The automaker emphasized that it already has a substantial manufacturing presence in the U.S.

Stocks in Milan rose 2.30 percent after Economy Minister Giovanni Tria said on Sunday the coalition's more radical budget plans would be introduced gradually, reassuring investors that European Union fiscal rules would be respected.


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