President Trump to spare Apple from tariffs on Chinese goods

On the contrary, Trump has picked fights with each of those trading partners - from imposing tariffs on imported steel and aluminum to demanding that Mexico and China transform the North American Free Trade Agreement (Nafta) into a deal more favourable to the US.

The news comes soon after Apple said that a "wide range" of products would be impacted by the proposed tariffs, and a request Apple made to U.S. Trade Representative Robert Lighthizer to reconsider the tariffs and take other measures to support the economy instead. Markets were also weak across Asia.

The president has suggested, tariffs on a couple hundred billion dollars.

US steel production is over half what it was in the early and mid 1970s. And China has retaliated in kind, hitting American soybeans, among other goods, in a shot at the president's supporters in the United States farm belt. The value of such imports from China is about US$12 billion, according to one of the people. There had been hopes of a resolution on trade between the two, but news of the planned fresh USA tariffs has sparked anger in Beijing.

Apple Inc. said last month the proposed duties on $200 billion cover a wide range of products used in its usa operations.U.S. stock futures edged lower, Asian equities slumped and European shares fluctuated amid investor concerns a heightened trade war will crimp corporate profits and undermine economic growth.

"While Washington extends a carrot to Beijing, it is also swinging a stick".

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While officials said the impact on the U.S. economy has been minimal, firms across the country report lost businesses, layoffs and possible bankruptcies as input costs rise and exports fall.

Speaking Sunday at an economics forum, Lou Jiwei, a former finance minister and chairman of China's sovereign wealth fund, said Beijing should disrupt supply chains of American companies that rely on China's vast manufacturing industries, the website Sina.com reported.

At the same time, the administration said it is still open to negotiations with China.

If the administration pursues what it calls "phase three" of the tariff strategy, it would raise the total value of affected Chinese goods to $517 billion - covering almost everything China sells the United States. Communist leaders see their industry plans as a path to prosperity and global influence.

China retaliated against the first round of US tariffs, which were applied mostly to Chinese technology imports, with its own $50 billion of tariffs, primarily on USA agricultural goods. "Hopefully, this trade situation will be resolved, in the end, by myself and President Xi of China, for whom I have great respect and affection". Trump added that if the Beijing government retaliates, he would pursue tariffs on another $267 billion in imports.

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