Tim Cook, the CEO of Apple, last week advised the U.S. and China to remain calm in the middle of fears of a likely trade war among the top two countries of the world over import taxes. Stress between the two nations increased after Donald Trump (the US President) declared taxes on up to $60 Billion worth of Chinese products per year to counter supposedly unfair trade methods of Beijing in the tech segment.
“I am known with the fact that in both the situations of China and the U.S., there have been situations where everybody has not profited, where the profit has not been reasonable,” Cook claimed to the media at the China Development Forum in an interview. The event is being held in Beijing.
“My principle is that 1 + 1 = 3,” he was mentioned as stating by local media. He further added that the market share gets bigger if work together. The Government of the U.S. had earlier declared taxes of 10% and 25% on imports of aluminum and steel respectively. To answer these taxes, China had declared that it was thinking of tariffs of almost $3 Billion on imports of some U.S. products to recompense for losses due to the heavy tariffs of the U.S. government on import of aluminum and steel goods from China.
China had also claimed to file a grievance with the WTO (World Trade Organization), mentioning the latest US tariff scheme as a possible meddling in worldwide trade practices. Cook called nations to hold on trade, openness, and diversity, expecting that “calm minds will succeed” in trade relationships between the U.S. and China. More attention must be given to discrimination and the causes behind it, which after a while will “lift everybody up”, he claimed to the media in an interview last week.
Morgan has been in the position of the business analyst for almost a decade and with such expertise, he is one of the best expert hands with us. His profound understanding of the trade, commerce, and business trends makes him a reliable contributor to blamfluie.com.