ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Railways
  • World
    • Economy
    • Politics
    • Markets
  • Survey
  • videos
  • photos
  • More ...
    • VIDEOS
    • PHOTOS
BREAKING NEWS
  • Foreign portfolio investors' exodus continues for 9th month; withdraw Rs 50,203 cr from equity market in June - know reasons
  • Windfall tax to recoup most of Rs 1 lakh cr revenue lost in excise cuts, industry sources say
  • D-Mart Q1 revenue jumps almost 2-fold to Rs 9,806.89 cr
  • This Android malware switches off Wi-Fi and drain mobile wallet
  • North Korea says US, South Korea-Japan agreement materialises US plan for 'Asian NATO'
Read in App
Business News » World News

Trump downplays Apple woes, says China economy helps U.S. in trade talks

U.S. officials are heading to Beijing next week for the first face-to-face talks since Trump and President Xi Jinping in December agreed to a 90-day truce in the trade war as they sought to strike a deal.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Trump downplays Apple woes, says China economy helps U.S. in trade talks
Trump downplayed the effects of the economic woes on U.S. technology giant Apple Inc , which this week blamed slowing iPhone sales in China behind a rare reduction in its quarterly sales forecast, Image source: IANS

President Donald Trump on Friday downplayed a revenue warning by Apple Inc and said slowing economic growth in China puts the United States in a strong position as negotiators from the world`s two largest economies prepare for trade talks next week.

Trump has slapped import tariffs on hundreds of billions of dollars of Chinese goods as he seeks concessions from Beijing on issues ranging from industrial subsidies to hacking. China has retaliated. The tit-for-tat tariffs have disrupted trade, hurt manufacturing, roiled international markets and slowed the global economy.

U.S. officials are heading to Beijing next week for the first face-to-face talks since Trump and President Xi Jinping in December agreed to a 90-day truce in the trade war as they sought to strike a deal.

"I think we will make a deal with China," Trump told reporters at the White House after a meeting with Democratic and Republican lawmakers. "I really think they want to. I think they sort of have to."

Beijing on Friday cut bank reserve requirements for a fifth time this year amid slowing growth at home and punishing U.S. tariffs on exports.

Official data this week showed manufacturing has slowed in both China and the United States. Trump, who last month called himself "Tariff Man", has said he wants a deal but that he would impose more tariffs if China failed to cede on key U.S. demands.

Trump downplayed the effects of the economic woes on U.S. technology giant Apple Inc , which this week blamed slowing iPhone sales in China behind a rare reduction in its quarterly sales forecast.

When asked if he was concerned about Apple`s share price, he said: "I’m not. I mean look, they’ve gone up a lot.”

Shares of Apple closed at $148.26 apiece on Friday, down about 5.1 percent this week. Apple shares fell 7 percent in 2018 but are still up about 24 percent since Trump took office in January 2017.

Apple`s outlook revision along with a double-digit drop in earnings at commodities giant Cargill Inc [CARG.UL] on Thursday may be among the clearest warning signs yet that the trade war`s effects have begun to hit U.S. companies.

MEETING

A team led by Deputy U.S. Trade Representative Jeffrey Gerrish will travel to China for talks, China`s commerce ministry said in a statement on its website on Friday, news that helped boost global markets.

USTR said separately that the delegation would also include Under Secretaries from the U.S. Departments of Agriculture, Commerce, Energy and Treasury, as well as senior officials from those agencies and the White House.

While Trump and other officials have said talks between the two sides are progressing well, they have given no details on concessions that China has made. Some U.S. demands would require structural reform that may be unpalatable for Chinese leaders.

China would deepen reform but will not yield on issues it deems to be its core national interests, a commentary in the ruling Communist Party`s official newspaper said on Wednesday.

"We know what sort of changes we need," White House economic advisor Larry Kudlow said in an interview with Fox Business on Friday. "Now, the question is can we negotiate these changes and can we do so with enforcement (and) with timetables."

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Donald TrumpApple Inc
Written By: Reuters
Updated: Sat, Jan 05, 2019
01:37 pm
WASHINGTON, Reuters
RELATED NEWS
Donald Trump to speak at CPAC in first public appearance after leaving White House Donald Trump to speak at CPAC in first public appearance after leaving White House
Discovery Plus releases documentary 'Storming the Capitol: The Inside Story' Discovery Plus releases documentary 'Storming the Capitol: The Inside Story'
YouTube extends suspension of Donald Trump's channel for another week YouTube extends suspension of Donald Trump's channel for another week
EXPLAINED | Donald Trump legacy: A more divided America, a more unsettled world EXPLAINED | Donald Trump legacy: A more divided America, a more unsettled world
Facebook has no plan to reinstate Donald Trump's account across apps Facebook has no plan to reinstate Donald Trump's account across apps

LATEST NEWS

Foreign portfolio investors' exodus continues for 9th month; withdraw Rs 50,203 cr from equity market in June - know reasons here

Q1FY23 Preview: Pharmaceutical firms likely to deliver subdued performance in domestic market, says Nirmal Bang -

D-Mart Q1 revenue jumps almost 2-fold to Rs 9,806.89 cr

Rakesh Jhunjhunwala Stocks: Agrochemical firm Rallis India shares may surge by 23% despite pressure on margins – Here’s why?

Maruti Suzuki looks to deploy strong hybrid tech across model range

AMC Sector: Growth-oriented funds lead the strong inflows, says BK Securities – check key triggers

ED provisionally attaches Rs 96 crore assets of TRS MP promoted Madhucon Group

Commerce Minister looking to release new foreign trade policy before September, says official

This Android malware switches off Wi-Fi and drain mobile wallet

Windfall tax to recoup most of Rs 1 lakh cr revenue lost in excise cuts, industry sources say

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2022. India Dot Com Private Limited. All Rights Reserved.
LIVE TV