Donald Trump: Apple should make products in the U.S. to avoid tariffs

Cisco Systems Inc. Hewlett Packard Enterprise Co. and other technology companies sent a letter to US Trade Representative Robert Lighthiser urging the administration to avoid imposing more tariffs

This week, Apple said that a proposed additional round of tariffs on $200 billion in Chinese imports would raise prices on some of its products, including the Apple Watch and the Mac mini.

President Trump responded to Apple's concerns about tariffs with a tweet Saturday morning, acknowledging that Apple products could get more expensive as a result of his administration's escalating trade war with China.

USA companies have warned that the tariffs, which would cover a huge range of industrial and consumer goods, would cause costs to increase. Make your products in the United States instead of China.

Apple declined to comment beyond its filed statement.

Apple, like other tech giants, has benefited from the last year's overhaul to the USA tax code, and the company has committed to returning much of the $252 billion in cash it held overseas. China plans to tax an additional $60 billion in United States products if the Trump administration expands its hit list by $200 billion.

CURRENCIES: The dollar fell to 111.27 yen from 111.51 yen.

It also said that every Apple product "contains parts or materials from the United States and is made with equipment from US-based suppliers". USA indexes are set for a subdued open. Interestingly though, the iPhone was not mentioned.

The iPhone, which accounts for about two-thirds of Apple's total sales, hasn't been affected by the proposed tariffs yet.


Trump initiated the trade war to punish Beijing for what it says are China's predatory tactics to try to supplant U.S. technological supremacy.

"If these tariffs go into effect, (China) may have to cushion the economy by devaluing its currency again", said Quincy Krosby, chief market strategist at Prudential Financial in Newark, New Jersey.

President Trump's trade war with China moved up a gear last month when the U.S. brought in a 25% tax on a second wave of goods worth $16bn.

Mr. Cook has expressed optimism the U.S.

Meanwhile, talks with Canada continued for another day Thursday to keep NAFTA 2.0 as a three-party trade deal - although Trump on Wednesday said he would "surprise" the public with a new name. "Each country can only prosper if the other does", he said in the summer call with analysts. China, for its part, may be willing to endure short-term pain and see how the USA midterms turn out.

President Trump proposed tariffs on $200 billion worth of Chinese products - and there is the threat of a further $267 billion- has caused Apple to write to the US Trade Representative to point out that this would lead to increased productions costs for many of its products.

"Our concern with these tariffs is that the US will be hardest hit, and that will result in lower USA growth and competitiveness and higher prices for USA consumers", Apple said in the letter.

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