Source: Alanna Dominguez
CALIFORNIA, United States – Apple warns that Donald Trump’s trade war against China can tilt the playing field and give favour to global competitors.
The giant tech firm made use of online submission to the hearings initiated by the US trade officials, arguing that plans to increase tariffs to another $300bn of Chinese products will be ‘downright counterproductive.’
Apple pointed out that they’re now the biggest taxpayer in the country – around $350bn over 5 years.
Donald Trump threatened to impose the additional tariffs if the meeting he wants to hold next week with Chinese President Xi Jinping does not eventuate.
Apple will experience the negative impact of this move as its key products, including MacBooks and iPhones, are manufactured in China.
There are now speculations about Apple contemplating to shift away from China and steer clear of these threats.
Other big companies share Apple’s sentiment including HP, Dell, and Walmart. Numerous U.S. companies depend on China in sourcing various products. Exploring alternative suppliers could mean substantial costs on these companies’ end, costs that may be passed right on to the buyers.
The trade war is blamed for slowing down economic growth – not just in China and the U.S. but globally.