Trump talks trade with Apple CEO Cook as China dispute looms

Will the Real Tariff Man Please Stand Down

Source AP

"We know firsthand that the additional tariffs will have a significant, negative, and long-term impact on American businesses, farmers, families, and the USA economy", the companies said in the letter.

But it is significant as U.S.

The president has repeatedly threatened to raise tariffs if Chinese President Xi Jinping doesn't meet with him at the Group of 20 leaders' meeting June 28-29 in Osaka, Japan.

"We remain concerned about the escalation of tit-for-tat tariffs", the firms were quoted as saying in a joint letter on Thursday. "Broadly applied tariffs are not an effective tool to change China's unfair trade practices".

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Starting Monday, the U.S. Trade Representative's office is scheduled to hold public hearings on the proposed tariffs.

Additional 25 percent tariffs on US$300 billion in imports, on top of those already levied, would wipe out more than 2 million United States jobs, the letter said, citing estimates from global consultancy the Trade Partnership.

Mr Trump has said he wants to meet Mr Xi there and will decide on whether to extend tariffs to nearly all Chinese imports after that.

"The overall economic burden will hurt China more than it hurts us", said Larry Kudlow, director of the White House's National Economic Council.

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Mexico's foreign minister Marcelo Ebrard insisted that the details of the agreement remain the same as those announced on Friday. He said the tax on those goods would increase each month the problem persisted until October, when it would cap at 25 per cent.

Big U.S. tech companies have long complained that there aren't enough tech-savvy candidates to hire.

Walmart, the largest U.S. private sector employer and the world's largest retailer, has said tariffs will increase prices for American consumers.

As for the overall USA economy, the 127 CEOs who completed the survey projected a 2.6 percent growth of the gross domestic product in 2019, 0.1 percentage point higher than the estimate made in the previous quarter.

On Thursday, Trump spoke with Cook about "trade, U.S. investment, immigration and privacy", White House spokesman Judd Deere said. On Wednesday, he participated in an event on Capitol Hill hosted by the U.S. Chamber of Commerce in coordination with the Congressional Digital Trade Caucus, titled "Digital Trade: Empowering U.S. Small Business to Export".

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President Donald Trump's threat of tariffs on Chinese imports could, for example, essentially inflict a tax on Apple's iPhones . Ltd, which trades as Foxconn, is Apple's major manufacturing partner for the iPhone and iPad.

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