Quantcast
Connect with us

Apple says US tariffs on China would backfire

Published

on

Apple is warning the US administration that proposed tariffs on Chinese imports would be counterproductive, saying they would hurt the iPhone maker’s competitiveness and “tilt the playing field” to non-American rivals.

In comments filed this week to the US Trade Representative, Apple said the tariff proposal by President Donald Trump would hurt Apple’s ability to compete and also end up reducing the tech giant’s contributions to the US economy in taxes and investments.

ADVERTISEMENT

The Apple comments dated June 17 noted that the company is the largest US corporate taxpayer and also is on track to invest some $350 billion in the country over five years.

“US tariffs on Apple’s products would result in a reduction of Apple’s US economic contribution,” the company said.

Additionally, the company said the plan would “weigh on Apple’s global competitiveness” and effectively boost its Chinese rivals.

“The Chinese producers we compete with in global markets do not have a significant presence in the US market, and so would not be impacted by US tariffs,” the letter said.

ADVERTISEMENT

“Neither would our other major non-US competitors. A US tariff would, therefore, tilt the playing field in favor of our global competitors.”

The US already has 25 percent duties on more than $250 billion of imports from China.

Global markets are concerned about Trump’s threat to impose more steep tariffs on China, on an additional $300 billion in goods.

ADVERTISEMENT

Apple, which according to some reports is considering moving some production of iPhones and other goods from China to India or other countries, said the proposed tariff list “covers all of Apple’s major products,” including iPhone, iPad, Mac, AirPods and AppleTV.


Report typos and corrections to: [email protected].
READ COMMENTS - JOIN THE DISCUSSION
Continue Reading

Breaking Banner

Trump’s ex-Russia aide said the president used a ‘shadow foreign policy’ to ‘personally benefit’ himself: report

Published

on

Fiona Hill, a former top White House adviser on Russia, revealed to congressional investigators on Monday that President Donald Trump conducted policy toward Ukraine for his personal benefit, according to a new report from the Washington Post.

She reportedly said that the president used his attorney Rudy Giuliani to a “run shadow foreign policy in Ukraine that circumvented U.S. officials and career diplomats in order to personally benefit” himself.

Continue Reading

Breaking Banner

‘He’s cooked’: Sam Donaldson warns Trump the Senate may vote to convict him after impeachment trial

Published

on

Veteran newsman Sam Donaldson on Monday evening told CNN viewers not to assume that Senate Republicans would refuse to remove President Donald Trump from office during an impeachment vote.

"Breaking news," CNN Don Lemon alerted. "A CNN source saying that the effort to pressure Ukraine for political help alarmed John Bolton so much that the told an aide to alert White House lawyers that Giuliani was a hand grenade who will blow everyone up. And a source familiar with Fiona Hill’s testimony says the former Russia adviser told lawmakers she was she saw wrongdoing in the Ukraine policy and reported it."

Continue Reading
 

Breaking Banner

Rudy Giuliani admits ‘Fraud Guarantee’ paid him $500,000 to work for indicted associate

Published

on

Rudy Giuliani admitted being paid a half a million dollars by an associate currently being held in federal custody, Reuters reported Monday.

"President Donald Trump’s personal attorney, Rudy Giuliani, was paid $500,000 for work he did for a company co-founded by the Ukrainian-American businessman arrested last week on campaign finance charges, Giuliani told Reuters on Monday. The businessman, Lev Parnas, is a close associate of Giuliani and was involved in his effort to investigate Trump’s political rival, former Vice President Joe Biden, who is a leading contender for the 2020 Democratic Party nomination," Reuters reported.

Continue Reading
 
 
Help Raw Story Uncover Injustice. Join Raw Story Investigates for $1 and go ad-free.
close-image