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US media: The trade war has made the Trump administration "fighting back"

Reference News Network reported on January 7 that Bloomberg recently analyzed that although the US government believes that the trade war with China will have long-term interests, American consumers and investors deserve short-term pain for this, but given the trade war to include It is likely that the damage caused by the most well-known American companies will be more difficult to defend the trade war.

Bloomberg said on January 3 that in his report that Apple's troubles in China made Trump's trade war more untenable, Apple's forecast for the first quarter's revenue was due to Demand in the Chinese market has slowed more than expected, and there are fewer upgrades for iPhone models. In a letter to investors, Apple CEO Tim Cook said the company did not expect the growth of emerging markets to slow significantly, especially in China. Apple's stock fell in extended trading, dragging down the broader S&P 500 futures.

The report believes that this can be seen as the latest evidence that the tension between the two world's largest economies has had a counterproductive effect on the United States, undermining Trump's assurance that the United States will continue to grow rapidly despite conflicts. .

The article said that Apple's announcement of a downward revision of its first-quarter revenue forecast may weaken US political influence a few days before resuming trade talks with China. Middle-level officials in Washington plan to participate in a conference to avoid escalation of disputes in Beijing on July 8 and 8. On March 1, if the agreement cannot be reached, the United States may increase tariffs on Chinese imports.

Last year, Trump once said that a trade war is a good thing and easy to win.

Muhammad Erian, chief economic adviser at Allianz Insurance and Bloomberg's senile department columnist, said signs of market selling and economic weakness could force trade-related parties to reach an agreement faster.

He said: This actually helps the process. If the trade war escalates, Apple's situation is particularly dangerous: it is first hit by US tariffs and then again hit by China's tariff response.

The article said that Cook was not the first company executive to attribute corporate decline to US policy. In December 2018, FedEx CEO Fred Smith said that the reason for the economic pessimistic expectations lies in American politicians including Trump. (Compile / Long Jun)

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