Tuesday, 18 June, 2019

President Trump Talks Trade and Other Issues with Apple CEO Tim Cook

Trump defends his China strategy Beijing says ‘not afraid’ of trade war Trump defends his China strategy, Beijing says ‘not afraid’ of trade war
Patty Aguilar | 14 June, 2019, 19:55

WASHINGTON - The economic burden of a trade war between the world's two largest economies will shift to China, rather than the United States, President Donald Trump's top economic advisor said on Thursday. "We know firsthand that the additional tariffs will have a significant, negative, and long-term impact on American businesses, farmers, families, and the USA economy", says the letter, which was signed by more than 600 companies and trade associations and endorsed by the tech, manufacturing, and agricultural industries.

Meanwhile, the ongoing US-China trade war also continues to weigh on the dollar.

Walmart, the largest USA private sector employer and the world's largest retailer, has said tariffs will increase prices for American consumers. After talks on a trade deal with China faltered last month, he ordered a tariff increase to 25 per cent from 10 per cent on $200bn of goods and targeted an additional $300bn in products for duties - including consumer items from clothing to toys to mobile phones that the administration tried to spare in previous rounds.

This letter is the latest of many sent to the Trump administration by Tariffs Hurt the Heartland, the national campaign against tariffs supported by more than 150 trade groups representing agriculture, manufacturing, retail and tech industries, Reuters noted.

In response, China raised additional tariffs on a range of US imports on June 1.

"Broadly applied tariffs are not an effective tool to change China's unfair trade practices", the letter reads.

Big, Bright Jupiter Lights Up Night Sky
The spacecraft was launched so scientists could study Jupiter's composition and evolution, and is now orbiting the planet. Stargazers will be treated to spectacular cosmic views of the gas giant as Jupiter has entered its yearly opposition.

Modi to avoid Pakistani airspace despite getting permission
Pakistan had on Monday decided in principle to let Prime Minister Narendra Modi fly over its airspace to Bishkek . Islamabad also captured one of the Indian pilots but released him to defuse the impending crisis.

Apple iPhone XR 2 battery details ‘revealed’
According to iFixit teardown, the iPhone XR has a 11.16Wh battery, that is more than the iPhone XS's 10.13Wh. Features for a revamped XR have started to leak out in advance of Apple's September product launch.

Puma North America, fashion designer Alexander Wang, department store chain Kohl's and athletic shoe retailer Foot Locker were also among the companies signing on behalf of their employees.

"We remain concerned about the escalation of tit-for-tat tariffs", the new letter sent on Thursday said.

As costs grow within the supply chain, leaders of many companies have indicated that they may be left with no choice but to raise prices for American consumers.

But it is significant as U.S. "An escalated trade war is not in the country's best interest, and both sides will lose", they said.

America's retailers, manufacturers, tech companies and industry associations joined together to warn that tariffs on China will damage the USA economy. "We believe this goal can be achieved without taxing Americans".

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