Rand slightly firmer despite Trump’s trade war comments

Rand slightly firmer despite Trump’s trade war comments

Shares in Apple Inc fell after-hours in reaction to Trump's comments that tariffs could also be placed on laptops and iPhones imported from China.

He also told The Journal it was "highly unlikely" that the USA would exit this week's G20 summit with an agreement to hold off on increasing duties already in place on Chinese goods.

The rate increase, from 10pc to 25pc, is due to be implemented on Jan 1.

"The only deal that would be really acceptable to me.would be China has to open up their country to competition from the United States", the president told the newspaper.

All three major USA indexes finished positive after spending much of the session in negative territory, as Kudlow said there is an opportunity to "turn the page" on a trade war with China. "President Xi can step up and come up with some new ideas for us".

Apple's stock was down almost 2% late Monday after President Trump said in an interview with The Wall Street Journal that he might levy tariffs of 10% on iPhones and laptops imported from China, products that have been exempt so far from fallout in the U.S.

Iphone Battery Replacement Program
Business Insider

Despite using contract manufacturers to make most of its products overseas, Apple has also sought to emphasise its contribution to the USA economy, saying it plans to spend about US$55 billion in 2018 with its US-based suppliers.

The Trump administration has blasted Moscow's latest actions in Ukraine, a former Soviet republic, but the president himself has given a far lower key response.

Analysts at National Australia Bank noted the 30 per cent drop in oil since early October would drag on USA inflation in coming months, perhaps offering further reason for the Federal Reserve to go slower on tightening. -China trade tensions. The benchmark 10-year government note yield was down 1.5 basis points from Monday's close, last at 3.06 percent. Additionally, China Vice Premier Liu told reporters that they wanted a negotiated solution on the trade that was based on mutual respect.

The White House warned Chinese President Xi Jinping on Tuesday against trying to wait out President Donald Trump in the ongoing trade dispute between their countries.

Trump is considering widening the tariffs on Chinese-made imports to the U.S., which could mean new duties on Apple products of between 10 and 25 percent. I'm not here to critique or second guess the Chinese economy but most observers believe China to be in a slump, whereas the United States is in a very strong, solid position going into this summit.




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