President Trump says it’s “highly unlikely” he’ll back off his plan to bump up tariffs on $200 billion in Chinese imports to 25 percent in January and could even slap duties on popular products such as Apple iPhones and laptops.

In an interview with the Wall Street Journal, Trump also renewed his threat to impose tariffs on another $267 billion in Chinese shipments if upcoming negotiations with Chinese President Xi Jinping don’t prove fruitful. Apple’s wildly popular consumer electronics products could be caught in the crosshairs.

“If we don’t make a deal, that I’m going to put $267 billion additional on,” at either a 10 percent or 25 percent rate, Trump told the Journal in an interview published Monday.

The Trump administration levied a 10 percent tariff on $200 billion in Chinese products in late September, including many consumer products, such as handbags and bicycles. Many analysts say US companies generally can absorb most of that cost without passing it to consumers or significantly hurting their profits.

But the 25 percent tariff, set to take effect Jan. 1, is expected to take a far bigger toll on the bottom line of many manufacturers and on the US and Chinese economie. Chinese officials have said they’ll try to persuade the U.S. to suspend the increase to 25 percent.

Trump suggested that’s unlikely.

“The only deal would be China has to open up their country to competition from the United States,” Trump said.

The next round of tariffs also could hit the iPhone and laptop computers, the president said. “Maybe. Maybe. Depends on what the rate is,” he told the Journal. “I mean, I can make it 10 percent, and people could stand that very easily.”

US officials, fearing a backlash, have tried to minimize the impact of tariffs on American consumers. Apple’s smart watch, wireless earphones and Mac Mini computer were exempted from the $200 billion round of duties. The iPhone and laptops were not targeted in that wave.

Many U.S. companies that ship products from China to the US have weighed moving production to other countries, such as Vietnam.

“What I’d advises for them to build factories in the United States to make the product here,” Trump said.

Source: USA Today

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