New Tariffs Could Raise Console Prices in the US

Muriel Colon
November 28, 2018

Mr Trump also said he would hit the rest of Chinese imports to the United States with tariffs if talks did not go well.

If you've ever wondered why Apple's Tim Cook has tried to remain on good terms with Donald Trump, it's for times like these.

"Maybe. Maybe. Depends on what the rate is", Trump said, referring to the possibility of tariffs on mobile phones and laptops, according to the Journal.

Mr Trump said it was "highly unlikely" that he would agree to Beijing's request to hold off on the tariff rise, the newspaper said.

Trump is hopeful for a breakthrough with Xi but is ready to impose more tariffs if the upcoming talks don't yield progress, Larry Kudlow, Trump's top economic adviser, told reporters Tuesday during a briefing ahead of the Group of 20 meeting in Argentina.

Investors will now turn their attention to a speech on Wednesday by Fed Chairman Jerome Powell and minutes from the central bank's November 7-8 meeting to be released on Thursday, for further clues of how many more times the Fed is likely to raise interest rates.

U.S. President Donald Trump is open to reaching a deal on U.S.

"We're going to make a great deal with China and everybody hopefully will be very happy, including China".

"We are seeing a greater degree of stability in sterling, but it went below recent ranges on Trump's comments", said Neil Mellor, currency strategist at Bank of New York Mellon in London.

Apple shares fell slightly in trading Tuesday after President Trump warned that his administration could slap a 10 percent tariff on the company's smartphones and computers amid an escalating trade conflict with China.

And addressing the prospect of "winners and losers" in a new tariff game, he predicted that America is 'in far better shape to weather this than the Chinese are'. 'As far as other countries are concerned, that's up to them'.

'The main issue is how to settle down the trade war, ' the official said on condition of anonymity due to the sensitive nature of preparatory negotiations. Since then, communications have picked up between the two sides, said Kudlow.

Kudlow added that if the US doesn't get "satisfactory" responses to its trade positions more tariffs will be imposed.

Reports suggest that the United States government and China are close to closing a deal which could help reverse ZTE's failing fortunes.

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