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

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

President Donald Trump is sending signals that the USA may impose more tariffs on China as he heads to the G-20 meeting in Argentina this week.

The G20 meeting is probably the last opportunity to avert an escalation of trade hostilities that are slowing China's economy and starting to have repercussions in the US.

Trump said he was waiting for a "full report" from his national security advisers later Tuesday about the alleged attack, claiming the information would be "very determinative".

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

In an interview with the Wall Street Journal four days ahead of his high-stakes meeting with Chinese President Xi Jinping in Argentina, Trump said it was "highly unlikely" he would accept China's request to hold off on the increase, which is due to take effect on January 1. -China trade relations, tariffs are not the best way to resolve them.

Despite Kudlow's repeated insistence that Trump sees cause for optimism, he also underlined the tough conditions that the administration wants to impose on Beijing.

China will have to give way on "fairness and reciprocity", he said, warning that USA concerns over intellectual property theft and China's forced technology transfers "must be solved".

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

Trump also is scheduled to meet with the leaders of Japan, India, Turkey, Russia, and South Korea.

"This could be a calculated tactic to continue pressuring China with escalation to raise the stakes for negotiations, but the President has yet to back down on his announced plans in the dispute", said Ed Mills, an analyst with Raymond James, in a note to clients.

"Maybe I won't have the meeting", Trump said, according to The Washington Post.

Trump´s last summit with Putin, in Helsinki in July 2018, prompted an outpouring of criticism that the U.S. president had failed to hold his Russian counterpart to account over what USA intelligence services have concluded was deliberate Kremlin meddling in the 2016 elections.

"The only deal would be China has to open up their country to competition from the United States", Trump told the Journal.

As well as talks with China, Mr Trump has arranged a personal meeting with Russian President Vladimir Putin and is expected to take part in a signing ceremony for the trade agreement with Mexico and Canada that replaces the North American Free Trade Agreement.

"I know the president's schedule is pretty packed, and has a number of sessions that he'll be involved in", said Sanders.

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