China promises to retaliate if U.S. imposes more tariffs

China promises to retaliate if U.S. imposes more tariffs

China promises to retaliate if U.S. imposes more tariffs

US-CHINA TRADE: Trump told reporters on Air Force One that the potential tariffs were "ready to go on short notice if I want".

The Australian dollar, a proxy for Chinese growth because of the large amount of metals it sells there, hovered near its lowest in 2 1/2 years and was last at $0.7115.

If Ford sold fewer than 50,000 Focus Active wagons per year, it would run a USA factory on only one shift per day, which isn't cost-effective, Dziczek said.

The Focus Active was set to be the first Chinese-made Ford offered in the USA, while General Motors now imports the Buick Envision SUV and Cadillac CT6 Plug-In Hybrid. Apple added that computer parts for its US operations would be hit by the tariffs.

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The company said about 80% of the vehicles Ford sells in the United States are built domestically.

On Saturday, Trump tweeted that Apple should make its products in the US instead of China, as doing so would allow the company to avoid higher manufacturing costs resulting from new tariffs the administration is planning to impose on China.

Trump has imposed tariffs on $50 billion in Chinese imports to remedy what he calls unfair Chinese trade practices.

Following recent statements from US President Donald Trump that Apple should produce its devices in the US to avoid Chinese import tariffs, analysts have weighed in on the matter.

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Apple didn't disclose by how much the tariffs would increase its costs, but said "they will increase the cost of Apple products" and argued the burden of the tariffs would fall heaviest on the U.S. and not China. Earlier this year, however, the company announced a major shift in focus (no pun intended): It would begin phasing out virtually all of its cars in the US, while doubling down on trucks and SUVs.

The company said tariffs would hit "a wide range of Apple products", including computers, watches, adapters, chargers and tools used in its US manufacturing, fix and data centers. Of course, by the time Apple could build plants to accommodate the manufacturing, it would already be way late. That would extend tariff increases to almost all of China's exports to the United States.

However, the company's letter adds that every product of theirs "contains parts or materials from the United States and is made with equipment from USA based suppliers".

Fact is, back on July 6, Trump began imposing 25 percent tariffs on $34 billion in Chinese imports, which included vehicles like the Focus Active. A recent study by Bank of America found that iPhone prices would rise 20% if they were manufactured 100% in the U.S. "This vehicle can now be BUILT IN THE USA and Ford will pay no tariffs!"

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