Trump calls on Apple to move production from China to US


In a tweet, Trump said there's an "easy solution" to Apple's potential woes that also came with a tax break: "Make your products in the United States instead of China".

The company noted it spent US$50 billion with 9,000 U.S. suppliers in its most recent fiscal year, including Texas-based chip firm Finisar Corp and Kentucky-based Corning Inc.

On Friday, Trump he was ready to step up pressure by raising tariffs on yet another $267 billion list of Chinese imports.

"That totally changes the equation", Trump said.

In its filing, Apple challenged that approach, writing that "it is hard to see how tariffs that hurt US companies and USA consumers will advance the Government's objectives with respect to China's technology policies".

It's not clear why the president cited the specific figure he used.

Apple did not respond to requests for comment.

China's annual export growth in August moderated slightly to 9.8 percent, the data showed, the weakest rate since March but only slightly below recent trends.

At public hearings last month, companies warned that fresh duties on Chinese imports could hike costs and stifle innovation.

Tariffs, in theory, will make US-made products cheaper than imported ones, so encourage consumers to buy American. The US imported $505 billion in goods from China past year. The president has argued that aggressive tariffs will force China to modify unfair trade practices and negotiate trade arrangements that are more beneficial to American firms.

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DATA OUTLOOK: Investors are expecting a string of US releases on Friday, such as the latest unemployment rate.

Shares of Apple closed down 0.8 percent in regular Nasdaq trade on Friday, and slipped another 1 percent in extended trading.

Computer and phone makers are involved in a global supply chain that includes Chinese manufacturing, and that can not be easily excluded without harm to United States companies, Intel said in a letter to the trade representative.

Imports, a key gauge of the strength of China's domestic demand, grew 20 percent, beating forecasts.

"China is moving lower in their economy". "We're the hottest place in the world".

Mr. Cook has expressed optimism the U.S.

The goods trade deficit with China surged 10 percent to a record $36.8 billion in July. "Lower barriers, open markets, quit stealing IP and technology", he said, using an abbreviation for intellectual property. That was considered Mr Trump's most significant trade move since his decision to pull the U.S. out of the TPP and renegotiate the North American Free Trade Agreement (Nafta). Apple's letter to the U.S. trade office named several company products that risk facing duties; they include the HomePod, the Apple Pencil, company chargers and adapters for Apple devices, and even the leather covers for iPhones and iPads.

While those numbers wouldn't derail the economy - Zandi forecasts that growth would reach 3 percent this year - "you'd start to feel it", Zandi said.

"The direct economic effects of the U.S. -Chain tariff dispute have so far been limited".