CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Trump plans to go ahead and raise China tariffs

"If we don't make a deal, then I'm going to put the US$267 billion additional (tariffs) on," at a tariff rate of either 10% or 25%, US President Donald Trump said.

Angela Teng @AngelaTeng_IG
Financial Writer, Singapore

Publication date : 2018-11-27T08:53:31+0000

US President Donald Trump

United States (US) President Donald Trump expects to carry on and raise tariffs on US$200 billion in Chinese imports to 25% from the current 10% and is “highly unlikely” to accept China’s plea to hold off the tariff hike due on January 1.

In an interview with The Wall Street Journal on Monday, Mr Trump repeated his threat to slap tariffs on all remaining imports from China, adding that “the only deal would be (that) China has to open up their country to competition from the US”.

"If we don't make a deal, then I'm going to put the US$267 billion additional (tariffs) on," at a tariff rate of either 10% or 25%, Mr Trump told the media publication.

Mr Trump is expected to meet Chinese President Xi Jinping in the upcoming G20 summit at Bueno Aires, Argentina this weekend.

Video poster image

China tariffs may be placed on iPhones, laptops, says Trump

Mr Trump said that the next round of tariffs could be on goods which are not yet hit by tariffs, such as laptops and Apple iPhones imported from China.

The US has not imposed tariffs on mobile phones and computers to minimize any tariff impact on consumers in the US.

China dominates US electronics imports. In 2017, China accounted for 61.6% of electronics imports into the US, far exceeding South Korea’s 4.5%, according to data from trade intelligence tracker PIERS.

US’ West Coast ports handle the bulk of electronic imports due to China’s dominance in imports to America, with Los Angeles managing 30.8% of total US import volume, followed by Long Beach, at 24%.

Apple's shares fell by 2.11% or US$3.69 to US$170.93 during after-hours trading at 8.25am UTC on Tuesday.

This information has been prepared by IG, a trading name of IG Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.

CFDs are a leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.

Find articles by writer

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. Professional Clients can lose more than they deposit.

The value of shares and ETFs bought through an IG stock trading account can fall as well as rise, which could mean getting back less than you originally put in. Please ensure you fully understand the risks and take care to manage your exposure.

IG does not issue advice, recommendations or opinions in relation to acquiring, holding or disposing of a CFD. IG is not a financial advisor and all services are provided on an execution-only basis. This communication is not an offer or solicitation to enter into a transaction and shall not be construed as such.

IG is a trading name of IG Limited a company registered at 2702 & 2703 Level 27, Tower 2, Al Fattan Currency House, DIFC, Dubai, United Arab Emirates. IG is authorised and regulated by the Dubai Financial Services Authority (DFSA) under reference No. F001780.

The information on this site is not directed at residents of the United States, Belgium or any particular country outside the UAE and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.