New Tariffs Could Raise Console Prices in the US

US President Donald Trump is due to meet Chinese leader Xi Jinping later this week to try to defuse the trade dispute between Washington and Beijing

Apple Stock Drops as Trump Discusses Potential iPhone Tariff

If Trump decides to impose the new tariffs, the total amount of taxes on goods from China would be up to $517bn.

He also said he expects to move ahead with raising tariffs on $200 billion in Chinese imports to 25% from 10% now. Trump intends to raise existing tariffs from 10% to 25%, while also looking at other imports that don't now have tariffs imposed on them.

The UBS analyst Timothy Arcuri said those threats could simply be a "negotiating tactic" ahead of the G20 summit, when Trump is expected to meet with Chinese President Xi Jinping.

White House spokeswoman Sarah Huckabee Sanders called the trip an opportunity for the president to cement relations with other world leaders and advance a global economic system based on "free, fair and reciprocal trade". The President is getting ready to put tariffs on additional products being imported from China, and that specifically includes the iPhone.

Mr Trump told The Wall Street Journal that the goods from China that could be subjected to new tariffs included iPhones and laptops.

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'. But foreign countries and firms doing business in China say they are frustrated because these promises are never carried out and that by subsidising domestic companies Beijing continues to create an uneven playing field. In September, the Trump administration announced a 10 per cent tariff on US$200 billion of Chinese goods, and said the rate will rise to 25 per cent on January 1.

'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.

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"I am conservatively optimistic that can be done", he added.

"Maybe. Maybe. Depends on what the rate is", Trump said of smartphones and laptop computers to the WSJ.

In his early years running Apple, Cook would respond to questions about increasing manufacturing in the U.S.by saying the skill sets in China are more conducive to producing the company's products.

'We can buy from Japan and South Korea or develop our own.

China will have to give way on "fairness and reciprocity", he said, warning that U.S. concerns over intellectual property theft and China's forced technology transfers "must be solved".

The trade war between the United States and China is in its full swing.

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