Below is an extract of a post published on Guardian titled "Fears of 'short-sighted' trade war grow as Trump threatens China with more tariffs - business live"
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Via: Guardian
Rolling coverage of the latest economic and financial news. US president Donald Trump could impose tariffs on another $267bn of Chinese goods Tech product such as iPhones could be hit Trump: Could raise existing tariffs from 10% to 25% 8.10am GMT Apple shares fell over 2% in after-hours trading, following Trump’s threat to escalate the trade war. Wall Street is clearly concerned that the dispute with China could escalate in 2019, hurting sales of iPhones. 7.59am GMT America’s technology industry has hit out at Trump’s threat to impose steeper tariffs on goods from China, such as iPhones. “Despite the pain Americans have felt in communities across the United States as a result of tariffs, the president has signalled he wants to continue this short-sighted trade war. Imposing a new round of tariffs would cause a shock that will reverberate across America and the globe. It would further threaten global supply chains, leading to higher prices for the electronic devices people rely on every day and even the loss of American jobs. 7.47am GMT Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business. President #Trump signals he is going to hike tariffs on $200bn Chinese goods to 25% from 10%https://t.co/Fx6RQcplf9 pic.twitter.com/KCX51Zb5PT “If we don’t make a deal, then I’m going to put the $267 billion additional on.” China has to open up their country to competition from the United States.” “I can make it [the tariff] 10 per cent, and people could stand that very easily.” Continue reading…
