China's trade surplus with U.S. hit new record in August

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President Donald Trump concedes that some Apple Inc. products may become more expensive if his administration imposes "massive" additional tariffs on Chinese-made goods, but he says the tech company can fix the problem by moving production to the U.S. "Start building new plants now", the POTUS tweeted. "If the US$200 billion tariffs are imposed, American consumers will see that prices of consumer goods increase significantly", he said.

Trump's comments come after Apple expressed dissatisfaction over his administration's China tariffs.

In the letter, Apple says the tariff list "covers a wide range of Apple products and the products used in our United States operations", including the Mac Mini, Apple power adaptors, cables, the Apple Watch, the Apple Pencil and Air Pods. It makes many of its products for the U.S. market in China, and it also sells gadgets including the iPhone in China, making them a potential target for Chinese retaliation against the Trump tariffs.

In the letter, Apple asks the U.S. government to "reconsider these measures and work to find other, more effective solutions that leave the United States economy and USA consumer stronger and healthier than ever before".

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Cell phones, the biggest USA import from China, have so far been spared, but would be hit if Trump activates the new $267 billion tariff list. Apple Chief Executive Officer Tim Cook earlier this year told Trump tariffs "were not the right approach".

On Wednesday, Apple warned in a letter to the USA trade representative that Apple's competitiveness could be hurt, leading to higher prices for consumers.

Exports to the 28-nation European Union, China's biggest trading partner, rose 11 percent to $37 billion.

White House Economic advisor Larry Kudlow told CNBC that talks between the USA and China were ongoing.

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Intel's letter goes further and warns that the tariffs will impact all consumer electronics, including smartphones, laptops and desktop PCs.

"In summary, [the proposed tariff list] is so broad and encompasses so many information, communication and technology (ICT) products that significant consumer harm is unavoidable", Intel said.

Apple, in pushing back on the tariff proposal, said it bought more than $50 billion worth of components from US-based suppliers previous year and that it's the largest United States corporate tax payer.

"The burden of the proposed tariffs will fall much more heavily on the United States than on China", Apple said in its letter.

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