 "Trump’s new push: ‘Apple, it’s a great time to move your company into US for zero tariffs; don’t wait’")
Hours after his trade war escalated with steep duties going into effect, US President Donald Trump on Wednesday urged companies like Apple to immediately begin relocating to the US to avoid tariffs.
Taking to Truth Social, Trump said, “This is a GREAT time to move your COMPANY into the United States of America, like Apple, and so many others, in record numbers, are doing. ZERO TARIFFS, and almost immediate Electrical/Energy hook ups and approvals. No Environmental Delays. DON’T WAIT, DO IT NOW!
President Trump has initiated tariff wars with nearly all of the US’ trading partners, showing no signs of abating.
Numerous new, sweeping taxes on imported goods are already in place, with additional tariffs taking effect on Wednesday. Trump has vowed to impose even higher rates as part of his latest and most aggressive round of duties, which he refers to as “reciprocal” tariffs.
Trump believes his policy will revive America’s lost manufacturing base by forcing companies to relocate to the United States.
But many business experts and economists question how quickly - if ever - this can take place and warn it could reignite inflation.
Meanwhile, sharply escalating a trade war started by President Trump, China on Wednesday announced massive retaliatory tariffs on US goods.
Trump’s latest salvo of tariffs came into effect on dozens of trading partners earlier Wednesday, including punishing duties of 104% on imports of Chinese products.
Beijing originally planned to respond with a 34% tariff on imports of US products from 1601 GMT Wednesday, but the finance ministry said it would now raise the toll to 84% after Trump dramatically hiked his own duties on imports from China.
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