Trump's threatened iPhone tariffs could raise prices by this much

Trump's threatened iPhone tariffs could raise prices by this much

Trump's threatened iPhone tariffs could raise prices by this much

President Donald Trump raised the prospect of slapping a 25 per cent tariff on imported cars and ordered a review of China's retaliatory auto tariffs against the U.S.as his administration continued to scramble to respond to General Motors Co.'s announcement of plant closures this week.

Following Russia's seizure of three Ukrainian ships, Trump threatened to cancel planned talks in Buenos Aires with President Vladimir Putin.

It's surprising how little Apple has said publicly about the possible impact from the tariff battle with China, where the vast majority of its products are assembled for shipment to the rest of the world.

The Journal report, citing unnamed officials on both sides of the Pacific, said it was unclear whether the meeting this weekend between U.S. President Donald Trump and Chinese President Xi Jinping in Buenos Aires would produce any agreement.

China's head however has vowed that China would boost protection of intellectual property.

But foreign firms in China complain that such promises are all too routine, and analysts doubt that Trump and Xi's talks over a working dinner will serve up much beyond a commitment to negotiate further.

Asked if China was seeking to prevent more U.S. tariffs at the high-stakes meeting, the ministry's spokesman, Gao Feng, said economic teams from both sides were in contact to implement a "consensus" reached by Mr Trump and Mr Xi in a phone call this month.

"I'm not here to critique or second-guess the Chinese economy, but most observers believe China to be in a slump, whereas the United States is in a very strong, solid position going into this summit". "Maybe I won't even have the meeting".

"I hope that the United States and China could move towards each other and work hard to achieve positive results in the meeting", Gao said, without giving any details.

The EU and US suspended potential auto tariffs in a truce announced over the summer, but that deal may not hold much longer, some observers predict.

The G20 summit is already confronted with dire warnings, by the International Monetary Fund among others, of the potential harm faced by the world economy from Trump's tariffs on Chinese goods and his stated threats of action to come against European and Japanese cars.

Trump said on Thursday he was open to a trade deal with China but was not sure he wanted one.

Trump has already bared its disdain for worldwide summitry by blocking final communiques at other recent gatherings such as the G7 and the Asia-Pacific bloc APEC, setting the stage for a fractious G20 on Friday and Saturday.

He reportedly will be in Buenos Aires from November 29 to December 1.

A professor serving as a journalist at the G20 presidential summit has been the victim of an assault days before the start of the high-level meeting.

The US, Canada and Mexico are scheduled to sign the new United States-Mexico-Canada Agreement that is replacing the Nafta trade deal during a ceremony on Friday.

"President Trump is right to have zeroed in on China's unfair trade practices, but a trade war with China isn't good for the world's economy over the long term, and it's not good for the us economy either", said Delaware Sen.

The G20 was formed in 1999 to bring stability to the global financial system, promote long-term sustainable growth and strengthen global financial governance.

The annual summit of leaders of the top 20 economies of the world is being attended by Prime Minister Narendra Modi.

May is expected to use the G20 to sell Britain's post-Brexit trading future outside the EU.

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