IPhone buyers could 'very easily' stand paying 10% more with China tariff


What's the endgame in the US-China trade war?

According to The Wall Street Journal, if negotiations dont produce a favorable outcome for the USA, additional goods for $200 billion, will be slapped with up to 25% tariffs, including consumer electronics by Apple and other products manufactured in China.

Trump told the Wall Street Journal Monday that it's possible the USA will apply new tariffs to Chinese-made consumer tech products like the iPhone.

Apple CEO Tim Cook has personally pressed the issue of tariffs with Mr Trump, telling the President that while there are valid concerns about US-China trade relations, tariffs are not the best way to resolve them.

The Sino-American trade conflict entered a crucial state stage in September, after tit-for-tat tariff hikes targeting in total some $260 billion of bilaterally traded goods officially came into effect.

Hugo Erken, senior economist at the bank, said: "An ongoing trade war between the world's two largest economies has much broader ramifications that transcend their own borders ... in a globalised economy, there are no real winners from such policies".

The US stockmarket shivered and fell when the Trump interview was published but recovered some ground on Tuesday after National Economic Council director, Larry Kudlow, while expressing some scepticism that the meeting would produce an agreement, said Trump remained open to a breakthrough and believed a deal could be made.

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Asked about the agenda for Trump's bilateral meeting with Russia's Putin, Bolton said all issues facing the United States and Russian Federation would be covered.

In New York, Apple Inc was down 0.5 per cent after Trump said tariffs could also be placed on laptops and iPhones imported from China.

"If we don't make a deal, then I'm going to put the US$267 billion additional on", at a tariff rate of either 10 per cent or 25 per cent, Mr Trump told the Wall Street Journal.

"His comments reflect how little progress has been made in trade talks so far and highlights the low probability for any deal to be agreed with China's president Xi [Jinping] when the two presidents meet at this week's Group of 20 [G20] summit", said London Capital Group analyst Jasper Lawler.

"I don't want to go overboard, but he's indicated some optimism".

China has retaliated but has less room to manoeuvre as the United States buys much more from China than it exports there. Once the chain is broken, the United States would be affected too'.

Asked point-blank if he can count on Trump, Poroshenko answered diplomatically: "This is the worldwide obligation of the United States".