Trump spared smart watches from Apple and Fitbit and other consumer products such as bicycle helmets and baby car seats. Trump, in a statement announcing the new round of tariffs, warned that if China takes retaliatory action against U.S. farmers or industries, “we will immediately pursue phase three, which is tariffs on approximately $267 billion of additional imports.” The iPhone was not among the ‘wide range’ of products that Apple told regulators would be hit by the $200 billion round of tariffs in a September 5 comment letter to trade officials. But if the Trump administration enacts a further round of tariffs on $267 billion in goods, engulfing all remaining U.S. imports from China, the iPhone and its competitors would not likely be spared. Collection of tariffs on the long-anticipated list will start September 24 but the rate will increase to 25 percent by the end of 2018, allowing U.S. companies some time to adjust their supply chains to alternate countries, a senior administration official said. So far, the United States has imposed tariffs on $50 billion worth of Chinese products to pressure China to make sweeping changes to its trade, technology transfer and high-tech industrial subsidy policies. The escalation… Read full this story
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