President of the United States, Donald Trump and President of China, Xi Jinping had a meet in Japan on Sunday to discuss the ongoing trade war between both the countries. The G20 summit proved to be successful because the presidents did manage to negotiate some terms of trade between China and the US. However, the negotiation didn’t prove to be successful for China as much, because one of the biggest US-based tech companies has decided to move their production from China to other Asian countries.
Earlier, Donald Trump has threatened to put the tariffs on the goods produced by China, in return, the Chinese authorities also called to put tariffs on US-produced goods, this became a major issue for the tech industry. The tariffs are of major concern because they affect the economy of every business, and that is why the big tech companies have decided to move their production from China.
These major companies include, Google, Amazon, Microsoft, HP, Lenovo, Dell, Sony, Nintendo, Asus etc. Now they are looking to move their manufacturing and production of their products to other Asian countries like Taiwan, Indonesia, Vietnam, Thailand, etc.
Apple has also reportedly moved 30% of its production from China. The CEO of the company, Tim Cook says that he is not worried about the tariffs. However, according to sources, it is revealed that Apple did send a letter to the Office of the United States Trade Representative stating the impact of the tariffs on the economy. Most of the other companies have still not commented on the scenario.