China Threatens Apple With “Anger And Nationalist Sentiment” If It Doesn’t Share The Wealth
by Tyler Durden
ZeroHedge.com
Tue, 08/07/2018
With China having effectively exhausted the amount of US imports on which it can impose tariffs following the $50BN in tariffs slapped in June, and announcing last Friday that it is considering an additional $60BN in retaliation to Trump’s $200BN in incremental Chinese tariffs, the focus has shifted to how else China can hurt the US, aside from simply cranking up the tariff rate.
Of course, China has previously hinted at what it could do, first in March…
However until now, a Chinese retaliation against the world’s most valuable company was merely floated in big picture terms and these were simply veiled threats, with China refusing to stray too far from the hypothetical.
That changed today, when an article in the state-run People’s Daily set its sights squarely on Apple, which it said has benefited from cheap labor and a strong supply chain in China and needs to share more of its profit with the Chinese people or face “anger and nationalist sentiment” amid the ongoing trade war.
The article notes that Apple recently reported that in the quarter ended June 30, sales to the greater China region rose by 19% to $9.6 billion and summarizes that “amid escalating trade friction, the company’s better-than-expected quarterly result in China was a major reason for the surge in its shares.”
The Rest…HERE
