NEW YORK, January 3. /TASS/. Profit of the number of American companies, including Apple, will be reduced as long as Washington will not sign a trade agreement with Beijing. This was stated on Thursday in an interview with CNN, the US presidential Advisor Donald trump, Chairman of the Council of economic advisers under US President Kevin Hassett.
“I think that many US companies having a large turnover in China will be to observe how their profits will be reduced during the year as long as we make [the trade] deal with China,” he said. According to Hasset, if a trade agreement will be concluded, “the sales of Apple and other [companies] will be restored” to their previous performance.
As said the Advisor to the President of the United States, the growth rate of the economies of several Asian countries, including China, has slowed since the spring of last year. In addition, he said, Beijing “feel the punch” from import duties imposed by Washington. “All of this has an impact on the profit, and this applies not only to Apple,” said Hassett.
On Wednesday, Apple has changed downward the forecast of its revenue in the first fiscal quarter, the last on 29 December last year. It was the first time in more than 15 years. In this case, Apple admitted that demand for its best — selling product- the iPhone — falls, including in China, the share of which in total volume of sales of the company’s products is about 20%. Thursday during trading on the NASDAQ, Apple shares fell more than 9 percent.
In early December, trump and Chinese President XI Jinping at the meeting on the sidelines of the G20 summit in Argentina have agreed to undertake within three months, steps aimed at conclusion of a trade agreement between the two States. The President said that he agreed with January 1, not to raise tariffs from 10% to 25% for Chinese products totaling $200 billion as it had previously planned.
Trump says he doesn’t like the trade deficit in trade with China, reaching, according to him, $500 billion From September 24 in the US entered into force a customs duty of 10% on imports from China of goods which total cost is estimated at $200 billion China responded with a tariff of 5% to 10% on imports from the US amounting to $60 billion trump has expressed its intention to begin a new phase of implementation of restrictive measures, but after his meeting with XI Jinping actions of the US administration in this direction was deferred.
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