Stock markets pick up after Asia drops over Trump tariffs

Mae Love
September 13, 2018

China is retaliating with its own tariffs on USA products. He wrote: "Start building new plants now".

European stock markets rose and Wall Street was expected to open higher on Monday, despite a drop in Asia, where investors fretted over the possibility of new and bigger US tariffs on Chinese goods. He also called on Apple Inc to make its products in the United States.

The technology giant warned last week that proposed U.S. tariffs would force it to raise prices for products including the Apple Watch and AirPods headphones.

Exports to the United States actually rose to a record high during August, helped by the fall in the Chinese currency against the USA dollar and the rush by companies to ship goods before the next round of tariffs comes in, according to analysts. The president offered the same remedy on Sunday for Ford, which no longer plans to export the Focus Active from China to America because of threatened auto tariffs.

- "This is just the beginning", Trump tweeted.

The US and China are fighting over tariffs, but it looks iPhone customers will pay the price.

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However, a Ford spokesman Mike Levine indicated that there isn't a good a business case to build the low-margin, niche model in the U.S.

If sales were high enough to justify production at a USA plant, the price of a compact vehicle isn't high enough to cover the difference in wages here, she said. Kristin Dziczek of the Heart for Automobile Learn acknowledged that Ford can intention Focuses "in many other plant life round the arena, so within the occasion that they made up our minds to proceed to promote a Focus variant within the USA market, there are plenty of alternatives rather then building it within the united states."In April, Ford announced plans to cease making autos within the united states - aside from for the iconic Mustang - and to point of interest on extra successful SUVs". While the iPhone, which accounts for about two-thirds of Apple's total sales, hasn't been affected by the tariffs yet, this could change if the Trump administration follows through with earlier threats of levies on United States dollars 500 billion in imports, which would cover just about everything China exports to the US. Today, a few different analysts are out with their take on what impact the tariffs will have on Apple, with the analysis ranging from a small impact to a slighter bigger one to, yes, Apple may have to raise some prices as a result.

New tariffs-ranging from 10% to 25%- are expected soon on US$200 billion worth of imports from China and these will be in addition to the US$50 billion already in place.

For the Focus Active, the tariffs on Chinese vehicles changed everything.

The Australian dollar, which is viewed as a gauge of confidence in China's economy because of the huge amount of Australian raw materials bought by Chinese companies, also came under pressure.It was trading near its lowest level against the USA dollar since early 2016, when fears of a collapse in Chinese growth roiled markets.

Exports to the United States in August rose 13.4 percent to $44.4 billion, ticking up from July's 13.3 percent growth.

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