Apple supplier Foxconn – US and China lead technology war

foxconnThe fierce clashes between the US and China, according to the board of directors of the Apple supplier Foxconn, Terry Gou turn to technology.

“They are not really fighting a trade war, it’s a technology war,” Gou said at the General Assembly on Friday.
For his company, the conflict was the biggest challenge in the company’s history. Various plans have been worked out to react, said Gou, without giving any details.

Foxconn has become known as Hon Hai Precision . The company has more than one million employees, most of them in China.

The dispute between the US and China has rocketed up recently. US President Donald Trump announced on Monday that he would impose new tariffs on Chinese goods worth $ 200 billion should the government in Beijing implement retaliatory tariffs on previous US import restrictions. Analysts also believe that this is disrupting the supply chains for the technology and automotive industries, for which Foxconn produces for the most part.

EU wants to respond to US punitive tariffs – worried about escalation

us euro trade warThe US-imposed punitive tariffs on steel and aluminum put the EU in the grip of pressure and raise concerns about a trade war with other products. There are fears that the government of US President Donald Trump, following a retaliatory move from Brussels, will impose higher taxes on additional sectors such as the export-oriented German auto industry. Observers urge prudence: As long as it is all about steel, Europe is comparatively little affected.

US tariffs on imports of steel (25 percent) and aluminum (10 percent) from the EU came into force on Friday morning. Mexico and Canada – the largest steel supplier in the USA – are also among them. All three trading partners of Washington consider this unjustified. The Federal Government assesses the new tariffs as unlawful.

The EU filed suit on Friday against US special tariffs at the World Trade Organization (WTO). “The European Union must clearly represent its interests,” said Foreign Affairs Commissioner Federica Mogherini in Brussels. The request for consultations in the context of a dispute settlement procedure was received, it was said at the WTO in Geneva. In addition, the EU wants to impose additional tariffs on a number of US imports.

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