Trump fires back at Apple: Make your products in US

US President Donald Trump

US President Donald Trump

The Trump administration has placed punitive tariffs on $50 billion in Chinese goods and threatened to tax all Chinese imports to the United States.

The Trump administration has also called on China to allow US companies greater access to Chinese markets and to cut its USA trade surplus.

Talk of the bonus $267bn tariff package comes as the White House has yet to settle all of the specifics of the planned $200bn tariff prospoals - which, as we said, would follow up that earlier $50bn package.

And then he went further, saying he's also ready to hit another 267 billion worth of imports right after.

China has said it's ready to impose retaliatory tariffs on $60 billion of U.S. goods.

"To a certain extent it's going to be up to China", he said.

He continued: "And I hate to say that, but behind that, there's another $267 billion ready to go on short notice if I want".

"That totally changes the equation", Mr Trump said.

Former Trump campaign advisor George Papadopoulos jailed for lying to Federal Bureau of Investigation
Papadopoulos had initially claimed this was before he joined the campaign, though he later confirmed it was once he was on staff. He was the first to plead guilty in Mueller's probe and is now the first Trump campaign adviser to be sentenced .

White House economic adviser Larry Kudlow on Friday left open the possibility of a negotiated solution to the trade dispute, but said China must show it's open to compromise.

Stocks dipped after Trump's comments became public but recovered most of their losses.

The US dollar rallied versus major peers and the offshore Chinese yuan fell the most in a week.

Kudlow, who heads the National Economic Council, told CNBC the administration was still talking with China about trade issues but so far China had not met United States requests.

The president has called for an additional $200 billion in tariffs on products imported from China, which Apple says would impact a wide range of its products, including Apple Watch, Apple Pencil, and Air Pods, and force the company to raise prices.

"There is still an impact from front-loading of exports, but the main reason (for still-solid export growth) is strong growth in the US economy", said Zhang Yi, an economist at Zhonghai Shengrong Capital Management.

The U.S.'s ability to continue to dominate telecommunications technology, including the upcoming fifth-generation phone networks, will be hampered by the levy on imports from China.

The U.S. already imposes a 25 percent tariff on around $50 billion of Chinese goods, principally technology imports. And China has vowed to hit $60bn in U.S. products in retaliation. The tariffs would pressure China to stop that behaviour, the administration has said. "In the meantime, we're taking in billions of dollars of taxes coming in from China, with the potential of billions and billions of dollars more taxes coming in". "However, hope springs eternal".

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