Mr Trump spoke yesterday as his administration prepared to apply 25 per cent tariffs to $200 billion of Chinese goods, in addition to levies that have been applied already to $50 billion of Chinese goods.
Hours after a public comment period closed on his $200 billion China tariff list, Trump told reporters aboard Air Force One that he was "being strong on China because I have to be". "[It] could take place very soon depending on them-to a certain extent it depends on China".
"That totally changes the equation", Mr Trump said. "As a result, tariffs will ultimately reduce the economic benefit we generate for the United States", the company writes.
Apple's stock closed down 0.8% in Friday's session.
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For January-August, China's trade surplus with the United States was $192.64 billion, compared with about $167.94 billion in the same period past year. China's trade surplus with the USA has, therefore, risen almost 15 percent from January to August 2018.
"The proposed tariff list covers a wide range of Apple products and the products used in our US operations: Apple digital health and wireless connectivity products, including Apple Watch, Apple Pencil and Air Pods; Apple computing tools such as MacMini; Apple adapters, cables and chargers engineered for efficiency and safety; Apple-designed components and made-to-specification tooling for Apple's USA manufacturing and product fix facilities; specialty testing equipment for Apple's US product development labs; and servers, hard drives and cables for Apple's US data centers that support our global services such as the App Store".
Beyond the core products, Apple said accessories like the HomePod speaker, some Beats speakers, AirPort and Time Capsule internet routers, the Magic Mouse and Magic Trackpad, and leather cases for the iPhone, iPad, MacBook and Apple Pencil would be affected.
"More broadly, tariffs will lead to higher USA consumer prices, lower overall US economic growth, and other unintended economic consequences". But, as the Guardian noted, Trump's tariffs are not working.
Economists and investors have, according to the Guardian, expressed concern over the standoff between the two countries, warning that the trade war could derail the global market and provoke more counter-tariffs to Trump tariffs.
"We are still talking with China on a number of issues. We want lower (trade) barriers across the board", Kudlow said. "However, hope springs eternal".