US president says he expects to move forward with the plans to raise tariffs to 25% from 1 January
Before the G20 meeting in Argentina on Friday, Trump used a newspaper interview to warn China that he expects to move ahead on the imposition of higher import tariffs on Chinese goods.
He stated that China’s request on postponing the tariffs, which are due January 1, is ‘highly unlikely’.
Trump, also indicated that Apple products such as iPhones and laptops made in China and imported to the US could be hit.
His comments triggered a sell-off in Apple shares, putting the company on course to lose its crown as the world’s most valuable firm, with Microsoft set to take the title in its place.
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