New Tariffs Could Hit Laptops, iPhones, Trump Says

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With consumers "clearly price sensitive" and the average sales price of an iPhone reaching nearly $800, "the last thing Cook and investors want to see is additional tariffs added to iPhones and impacting demand drivers at this crucial growth juncture for the company", Daniel Ives, an analyst at Wedbush Securities, wrote Monday in a note.

Trump has already imposed tariffs on more than $250bn in Chinese goods - about half of the total imported each year - in an attempt to pressure the country to change its trade rules. -China trade relations, tariffs are not the best way to resolve them. The Administration has said in the past those tariffs would rise to 25% on January 1 if no deal is reached.

"The only deal would be China has to open up their country to competition from the United States". Many products, such as mobile phones and laptops, were exempt from those tariffs.

China's President Xi Jinping speaks next to President Donald Trump during a business leaders event at the Great Hall of the People, in Beijing, on November 9, 2017.Since summer, trade tensions have simmered between Washington and Beijing as Trump first announced $50 billion in additional tariffs on Chinese products.

Cellphones and computers, among China's biggest exports to the United States, have thus far been spared as the administration has sought to minimise the impact on U.S. consumers. Chinese officials responded with retaliatory tariffs on American goods.

Separately, Chinese ambassador to the US Cui Tiankai said in an interview with The Wall Street Journal that he hoped the Xi-Trump meeting could "give us clear strategic guidance on where the relationship is going" and make progress in resolving the trade row.

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Trump said he was waiting for a "full report" from his national security advisers later Tuesday about the alleged attack, claiming the information would be "very determinative". 'I am conservatively optimistic that can be done, ' he added.

Last week, Washington proposed stepping up scrutiny over technology exports in 14 key high-tech areas including artificial intelligence and microprocessor technology, a move many analysts believe was directly aimed at China.

Treasury yields fell on Tuesday afternoon after $40 billion of new five-year notes were sold to strong demand and on resurgent worries about U.S.

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

There's a potential that those lofty prices could go even higher thanks to the trade war between the United States and China that has been escalating at a rapid clip.