China's August Trade Surplus With US Hits Record $31 Billion

Trump acknowledged in a tweet that "Apple prices may increase because of the massive Tariffs we may be imposing on China", but suggested the issue was not with the tariffs themselves.

This week, Apple said that a proposed new round of $200 billion in additional tariffs on Chinese imports would raise prices on some of its products, including the Apple Watch and the Mac mini.

"The $200 billion we're talking about could happen very soon", Trump said.

"That changes the equation", he added. The company makes a large percentage of its products in China.

Stocks dipped after the comments, with the S&P500 off 0.2 percent.

Cellphones, the biggest U.S. import from China, have so far been spared but would be engulfed if Trump activates the $267 billion tariff list. However, China's imports from the United States are $200 billion a year less than American imports from China, so it would run out of room to match USA sanctions. But 2018 imports from China through July were up almost 9% over the same period of 2017, according to US Census Bureau data.


On Friday (September 8), Kudlow also told Bloomberg the administration would consider public comments before making a final call on the 200 billion list.

The tariffs proposed by the Trump administration would make certain Apple products like the Watch, AirPods, and chargers, more expensive.

Apple said the tariffs would raise the cost of its US operations and put it at a disadvantage to foreign rivals.

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. But David French, a top lobbyist for the National Retail Federation, whose members include Amazon.com, BJ's Wholesale Club and Macy's, said almost every consumer good could be affected if Trump follows through on all threatened tariffs.

China's trade surplus with the United States reached a record $31 billion in August, despite hefty tariffs recently imposed on Chinese goods. Those talks will continue to go on.


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