(The jury is still out for me)
NationalSentinel) Virtually no one inside Washington’s political, academic, and media establishment believes in President Donald Trump’s approach to trade with China — specifically his imposition of tariffs on hundreds of billions of dollars’ worth of goods in order to secure a better trade arrangement for the United States.
But by several measures, the president’s tariff regime is working, as evidenced by the latest indicator: Apple says it will shift some 30 percent of its production out of China not only due to the tariffs but also because of uncertainty over the future of trade between both countries, according to Nikkei.
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And this comes after a Foxconn exec warned that the biggest maker of iPhones in China was ready to shift production elsewhere.
As for Apple, the word from Nikkei is that the suppliers of iPhones, iPads, MacBooks and Apple Ear Pods have all drawn up plans to move 15-30 percent of their production outside of the mainland, with India, Vietnam, Mexico, and Malaysia looking like the top alternatives.
“We need to know where those big assemblers are heading to so that we can initiate our plan too,” an executive at an Apple component supplier told Nikkei.
At this point, even if the Trump administration does not go ahead and slap tariffs on an additional $300 billion in Chinese goods, Foxconn, Pegatron, Wistron, Quanta Computer, iPad maker, Compal Electronics, and AirPods makers Inventec, Luxshare-ICT and Goertek “have all been asked by Apple to evaluate options outside of China,” Zero Hedge reports.
What does it all mean? One way or another, it looks like millions of jobs are leaving China in the near term, due in part to the trade war but also to demographics (lower birth rates in China).
http://thenationalsentinel.com/2019/06/19/trump-tariffs-working-apple-to-move-30-percent-of-production-out-of-china-due-to-tariffs/?mc_cid=e617d91bbb&;mc_eid=acb1e1ec52
If you think education is expensive, try ignorance.
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