Taipei/Beijing: HP Inc. and Dell Technologies Inc. plan to move as much as 30% of their notebook production away from China, the Nikkei cited anonymous sources as saying, as global technology giants try to avoid escalating tariffs on US-bound goods. Corporations foreign and domestic are seeking to pivot production away from China amid US President Donald Trump’s efforts to use punitive tariffs to negotiate friendlier trade terms. Alphabet Inc.’s Google has already shifted much of its production of US-bound motherboards to Taiwan, averting a 25% tariff, Bloomberg News reported last month. “HP shares industry concerns that broad-based tariffs harm consumers by increasing the cost of electronics," a spokesman said in a statement. The Taiwanese contract manufacturers that make most of the world's electronics, including Apple Inc.-partner Foxconn Technology Group, have since 2018 accelerated the shift at their clients’ behest.

Source: Mint July 03, 2019 17:15 UTC