China is breaking at rates with American goods, potentially jeopardizing Apple's supply chain

The day after the US announced $ 200 billion in import duties, China withheld $ 60 billion new own rates.

In a further escalation of the trade wars between the countries, the Department of Commerce in China announced on Tuesday that it is taking revenge, with $ 60 billion in tariffs, after the latest tariffs imposed by US Monday. It was not immediately clear which products were affected.

"China has always stressed that the only right way to resolve the issue of trade between China and the US is through talks and consultations on an equal, sincere and mutually respectful basis," said spokesperson for the Chinese Ministry of Foreign Affairs. Geng Shuang in a statement by Reuters. "But at the moment everything does not give the United States the impression of sincerity or goodwill."

What the retaliation rights mean for Apple is currently unclear. The Trump administration reportedly pulled 300 product lines, including smart and Bluetooth devices, from the list of affected products, at the request of Apple and other companies when it announced its rates on Monday.

On Monday, The Wall Street Journal reported that "a number of Chinese officials involved in advising management are proposing to increase trade by limiting the sales of materials, equipment and other components that are important to the supply chain of US manufacturers."

It is not clear if that happened, but if that is the case, it would certainly have an effect on the supply chain of the iPhone and other Apple products. The same diary added that American companies operating in China are "increasingly worried about Chinese retaliation" and have reported an increase in such problems, such as increased inspections and slower customs clearance.

Appear on ABC & # 39; s Good morning America Tuesday, Apple & # 39; s Tim Cook expressed optimism that the differences between the US and China would be worked out.

"Trade is one of those things where it is not a zero-sum game." Cook said. "I am optimistic that the two countries will arrange this and life will continue."

© Appleinsider

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