Peter Landers
Appearances
WSJ What’s News
China Vows to Fight U.S. Tariffs ‘To The End’
In Apple's case, whether it's made in China or made in India, there's no way to avoid a certain level of price increase if these tariffs stick. And I think businesses are investigating what they can do. However, with the tariffs set to go into effect tomorrow, it's probably too late to really boost production in the next 24 hours.
WSJ What’s News
China Vows to Fight U.S. Tariffs ‘To The End’
but they are considering how they can use their existing manufacturing footprint most effectively.
WSJ What’s News
China Vows to Fight U.S. Tariffs ‘To The End’
A lot of businesses are trying to figure out where is the location they can manufacture with the lowest tariffs to the US. Some countries had 50% or more like China, Vietnam at 46% was quite high. So they're looking for places like India or perhaps Mexico or the UK. However, what they're also telling us is that it's too soon to make long-term decisions.
WSJ What’s News
China Vows to Fight U.S. Tariffs ‘To The End’
If you already have factories in two places and one has a lower tariff, then you're going to try to use that one to export more to the U.S. But they don't know whether Trump will stick to his plan, and that's why it's too soon to make long-term decisions that might take years to implement.
WSJ What’s News
Market Turmoil Deepens as Trump Stands By Tariffs
The two worst hit markets were Hong Kong and Taiwan. The Hang Seng Index in Hong Kong, which includes a lot of mainland Chinese stocks, was down more than 13%, and it had its worst day since the Asian financial crisis in 1997. Taiwan's stock market was down 9.7%, which is pretty close to the maximum because shares can't go down more than 10% in one day on that market.
WSJ What’s News
Market Turmoil Deepens as Trump Stands By Tariffs
I don't want anything to go down. But sometimes you have to take medicine to fix something.