Ford and other auto companies received a similar brush off when they protested that renegotiating the North American Free Trade Agreement could leave them worse off. Discussions with Canada and Mexico have focused on how much they are willing to accede to USA demands.
This possibility was held out by Larry Kudlow, Director of the National Economic Council and one of the architects of the trade war aimed at punishing China for its theft of U.S intellectual property and redressing the huge US trade deficit with China.
In the letter, Apple asks the US government to "reconsider these measures and work to find other, more effective solutions that leave the U.S. economy and U.S. consumer stronger and healthier than ever before".
"We believe the USA equity market reflects an expectation of additional tariffs", Goldman Sachs analysts said in a report dated September 8.
"Every $1bn of demand destruction could impact earnings by ~0.05", the BofA report said, adding that manufacturing in the U.S. China, for its part, may be willing to endure short-term pain and see how the US midterms turn out.
They also said consumer goods targeted under tariffs do not come under the scope of "Made in China 2025" program.
Apple CEO Tim Cook has done an very bad lot of schmoozing with Donald Trump, and to date he's gotten a lot of out his dance with the devil.
"The country should pay more attention to diversifying its markets and make breakthroughs in core technologies such as semiconductors and automobile engines", Wei said. More broadly, tariffs will lead to higher US consumer prices, lower overall USA economic growth, and other unintended economic consequences. That would be on top of $50bn of goods already hit by 25 per cent duties and another $200bn on which Washington is poised to raise tariffs.
Also last Friday, Apple Inc. said in a letter the government's proposed tariffs on $200 billion cover a wide range of products used in its USA operations. The vehicle will be built in both Chongqing, China, and Saarlouis, Germany, a Ford spokesman said in an interview on Monday. The math is simple, said RILA.
The EU trade spat prompted motorcycle manufacturer Harley-Davidson to announce it would move some US production overseas, to allow it to continue to sell to European customers without feeling the bite of the EU's counter-tariffs.
"To a certain extent it's going to be up to China". But making them on American soil would jack up prices even more.
Trump does not recognise "the complexity of supply chains and the types of inputs that go into decisions of where to locate one's production of different vehicles", Cutler said.