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Apple, Deere & Co, retail in focus as U.S. releases fresh tariff list
Tuesday May 14, 2019. 03:00 PM , from Mac Daily News
“Deere & Co. on Tuesday joined other companies hit by the U.S.-China trade war,” Jeran Wittenstein and Felice Maranz write for Bloomberg. “The Moline, Illinois-based company is part of a long and growing list of firms confronted with trade-related challenges for their businesses. Cell phones, toys, game consoles and printers were included in a fresh tariffs list released on Monday, and the likes of Apple Inc., Hasbro Inc. and Western Digital Corp. may be hurt. President Trump continued to tweet about trade on Tuesday morning, with statements including, ‘When the time is right we will make a deal with China.'”
“Deere is down 1.2% in pre-market trading — but Apple is rising 1.2%, and U.S. equity futures are gaining alongside European stocks as investors assess the prospects for global trade and sift for potential winners,” Wittenstein and Maranz write. “According to Wedbush analyst Daniel Ives, the current trade situation could result in Apple seeing production costs for the iPhone rise 2%-3%, given the impact that trade is having on input materials like lithium batteries. Under a ‘more draconian scenario,’ where additional tariffs are levied, expenses could escalate ‘by roughly 10%+ over time.'” “Any pressure on the Cupertino, California-based company is likely to have a ripple effect throughout its vast global network of suppliers,” Wittenstein and Maranz write, “which includes Broadcom Inc., Qualcomm Inc. and Taiwan Semiconductor Manufacturing Co.” ….This money will come from the massive Tariffs being paid to the United States for allowing China, and others, to do business with us. The Farmers have been “forgotten” for many years. Their time is now! — Donald J. Trump (@realDonaldTrump) May 14, 2019 China will be pumping money into their system and probably reducing interest rates, as always, in order to make up for the business they are, and will be, losing. If the Federal Reserve ever did a “match,” it would be game over, we win! In any event, China wants a deal! — Donald J. Trump (@realDonaldTrump) May 14, 2019 Read more in the full article here. MacDailyNews Note: The tweets referenced by Wittenstein and Maranz: ….of the tremendous ground we have lost to China on Trade since the ridiculous one sided formation of the WTO. It will all happen, and much faster than people think! — Donald J. Trump (@realDonaldTrump) May 14, 2019 SEE ALSO: Gene Munster: Apple likely to be spared from China tariffs – May 10, 2019 Apple shares drop 7% this week on fears China trade turmoil threatens iPhone sales – May 10, 2019 Apple’s iOS 13 rumored to drop support for iPhone 6, iPhone SE and iPhone 5s – May 10, 2019 Apple not yet hurt by China tariffs, likely to simply absorb the added cost – May 10, 2019 Apple temporarily escapes new tariffs as U.S.-China trade war escalates – May 10, 2019 Dow futures fall after President Trump tweets ‘absolutely no need to rush’ on China trade deal – May 10, 2019 China overplayed its hand with U.S. President Trump on trade, and it could cost them dearly – May 9, 2019 Apple CEO Tim Cook optimistic about U.S.-China trade talks – February 12, 2019 President Trump says U.S. doing well in trade negotiations with China – January 23, 2019 China’s 2018 growth slows to 28-year low, more stimulus seen – January 22, 2019 Apple CEO Tim Cook: I’m very optimistic about U.S.-China trade talks – January 8, 2019 Advisor to President Trump: Apple’s sales should pick up when U.S.-China strike trade deal – January 3, 2019
https://macdailynews.com/2019/05/14/apple-deere-co-retail-in-focus-as-u-s-releases-fresh-tariff-list
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