UPDATE 3-Apple says U.S. tariffs on China would hit 'wide range' of products

(Reuters) – A “wide range” of Apple Inc (AAPL.O) products including the Apple Watch would be affected by proposed U.S. tariffs on Chinese goods, the company told U.S. trade officials, but gave no sign of an impact on its iPhone cash cow. Apple did not disclose specific revenues for most of the affected products, but of those the Apple Watch may be the biggest seller. It brought in about $6.1 billion in revenue last year, according to an estimate from analyst firm Bernstein. That represents a small portion of Apple’s $229 billion in overall sales. Apple laid out the impact on its products of the Trump administration’s proposed tariffs on $200 billion worth of Chinese goods in an unsigned letter it submitted on Wednesday to U.S. officials as part of a public comment period. On Friday, U.S. President Donald Trump, speaking aboard Air Force One, said that he has tariffs on an additional $267 billion in Chinese goods “ready to go on short notice if I want.” Cell phones, the biggest U.S. import from China, have so far been spared, but would be hit if Trump activates the new $267 billion tariff list. AirPods headphones, some of Apple’s Beats headphones and its new HomePod smart speaker also face levies as part of the proposed tariffs on $200 billion worth of Chinese goods, according to the letter submitted on Wednesday. “Our concern with these tariffs is that the U.S. will be hardest hit, and that will result in lower U.S. growth and competitiveness and higher prices for U.S. consumers,” Apple said in the letter. Apple did not respond to requests for comment. The letter did not mention the iPhone, which accounted for about two-thirds of Apple’s $229 billion in revenue in its most recent fiscal year. The letter also made no mention of the iPad, which brought in $19.2 billion in sales in the most recent year, or most of its Mac computers, which generated $25.8 billion. Apple did say its MacMini, a low-priced computer that comes without a keyboard or mouse, would be affected. Many Apple accessories, such as mice, keyboards, chargers and even leather covers for iPhones and iPads would face tariffs, Apple said. Reuters reported in July that the Apple Watch was likely to be affected by the tariffs. Shares of Apple closed down 0.8 percent in regular Nasdaq trade on Friday, and slipped another 1 percent in extended trading. Apple also said that computer parts for its U.S. operations would be hit by the tariffs. The company said that “main logic boards with microprocessing units” could face levies, along with equipment used for research and development. On Apple’s most recent earnings call in July, Chief Executive Officer Tim Cook said the company could face such tariffs “related to data centers.” In its letter, Apple argued that the way U.S. trade officials calculate the U.S. trade balance – attributing the entire value of a product to a country like China where final assembly happens – fails to reflect the true value that Apple generates in the United States. The company noted it spent $50 billion with 9,000 U.S. suppliers in its most recent fiscal year, including Texas-based chip firm Finisar Corp and Kentucky-based Corning Inc. “Given the balance of Apple’s economic footprint, the burden of the proposed tariffs will fall much more heavily on the United States than on China,” Apple said in its letter. The technology sector is one of the biggest potential losers in the proposed $200 billion tariff list. Fitness tracker maker Fitbit (FIT.N) said it would be hit by tariffs, and chipmaker Intel Corp (INTC.O) said the levies could slow down the adoption of 5G networks, the next generation of wireless data technology for phones and other devices. window.RCOM_Data = {“header_n8vsebq3vx”:{“template”:”header”,”evergreens”:[{“url”:”https://www.reuters.com/news/world”,”name”:”World”,”sponsored”:false},{“url”:”https://www.reuters.com/finance”,”name”:”Business”,”sponsored”:false},{“url”:”https://www.reuters.com/finance/markets”,”name”:”Markets”,”sponsored”:false},{“url”:”https://www.reuters.com/politics”,”name”:”Politics”,”sponsored”:false},{“url”:”https://www.reuters.tv/”,”name”:”TV”,”sponsored”:false}],”topics”:[{“url”:”https://www.reuters.com/subjects/myanmar-reporters”,”name”:”Detained In Myanmar”,”sponsored”:false},{“url”:”https://www.reuters.com/energy-environment”,”name”:”Energy u0026 Environment”,”sponsored”:false},{“url”:”https://www.reuters.com/brexit”,”name”:”Brexit”,”sponsored”:false},{“url”:”https://www.reuters.com/north-korea”,”name”:”North Korea”,”sponsored”:false},{“url”:”https://www.reuters.com/subjects/charged”,”name”:”Charged: The Future of Autos”,”sponsored”:false},{“url”:”https://www.reuters.com/future-of-money”,”name”:”Future of Money”,”sponsored”:false},{“url”:”https://www.reuters.com/breakingviews”,”name”:”Breakingviews”,”sponsored”:false},{“url”:””,”name”:””,”sponsored”:false},{“url”:””,”name”:””,”sponsored”:false},{“url”:””,”name”:””,”sponsored”:false},{“url”:””,”name”:””,”sponsored”:false},{“url”:””,”name”:””,”sponsored”:false}],”featured_stories”:[{“displayName”:”Myanmar”,”url”:”//www.reuters.com/article/us-myanmar-journalists/myanmar-says-court-in-reuters-reporters-case-was-independent-idUSKCN1LN1QI?ilu003d0″,”image”:”//s2.reutersmedia.net/resources/r/?mu003d02u0026du003d20180907u0026tu003d2u0026iu003d1301880026u0026ru003dLYNXNPEE8612C”,”headline”:”Myanmar says court in Reuters reportersu0027 case was independent”},{“displayName”:”Sectors Up Close “,”url”:”//www.reuters.com/article/us-tesla-moves/tesla-chief-accountant-resigns-one-month-after-joining-idUSKCN1LN1MH”,”image”:”//pictures.reuters.com/Doc/RTR/Media/TR3_UNWATERMARKED/0/c/0/b/RTS20BFV.jpg”,”headline”:”Tesla rocked by executive departures, Musku0027s web show”},{“displayName”:”u0027On the Caseu0027 podcast”,”url”:”//www.reuters.com/article/us-onthecase-podcast/on-the-case-a-podcast-by-alison-frankel-idUSKCN1LM2WH”,”image”:”//pictures.reuters.com/Doc/RTR/Media/TR3_UNWATERMARKED/8/2/a/3/RTX2O0FN.jpg”,”headline”:”On The Case: A podcast by Alison Frankel”},{“displayName”:”Supreme Court”,”url”:”//www.reuters.com/article/us-usa-court-protests/hundreds-arrested-in-multi-day-protests-of-supreme-court-nominee-idUSKCN1LN2K3″,”image”:”//pictures.reuters.com/Doc/RTR/Media/TR3_UNWATERMARKED/8/d/f/6/RTS20GZG.jpg”,”headline”:”Hundreds arrested in multi-day protests of Kavanaugh”},{“displayName”:”Sports”,”url”:”//www.reuters.com/article/us-tennis-usopen-williams-osaka/serena-osaka-ready-to-write-history-in-u-s-open-final-idUSKCN1LN2QT”,”image”:”//s4.reutersmedia.net/resources/r/?mu003d02u0026du003d20180907u0026tu003d2u0026iu003d1302026524u0026ru003dLYNXNPEE861RW”,”headline”:”Serena, Osaka ready to write history in U.S. Open final”},{“displayName”:”Investing “,”url”:”//www.reuters.com/article/us-campbell-soup-thirdpoint/third-point-launches-proxy-fight-for-full-campbell-board-idUSKCN1LN1JI”,”image”:”//pictures.reuters.com/Doc/RTR/Media/TR3_UNWATERMARKED/e/1/8/a/RTSYUXB.jpg”,”headline”:”Third Point launches proxy fight for full Campbell board”},{“url”:”/article/us-usa-election-obama/obama-speech-to-urge-big-democratic-turnout-in-november-elections-idUSKCN1LN17V”,”image”:”//pictures.reuters.com/Doc/RTR/Media/TR3_UNWATERMARKED/d/f/c/8/RTS20GGS.jpg”,”headline”:”Obama blasts Trump and GOP, urges Dems to vote”}],”render_key”:”header_n8vsebq3vx”,”menu”:[{“url”:”/home”,”name”:”Home”},{“url”:”/finance”,”name”:”Business”,”children”:[{“url”:”/finance”,”name”:”Business Home”},{“url”:”/legal”,”name”:”Legal”},{“url”:”/finance/deals”,”name”:”Deals”},{“url”:”/subjects/aerospace-and-defense”,”name”:”Aerospace u0026 Defense”},{“url”:”/subjects/banks”,”name”:”Finance”},{“url”:”/subjects/autos”,”name”:”Autos”},{“url”:”/finance/summits”,”name”:”Reuters Summits”},{“url”:”/news/subjects/ADventures”,”name”:”ADventures”},{“url”:”/data-dive”,”name”:”Data Dive”}]},{“url”:”/finance/markets”,”name”:”Markets”,”children”:[{“url”:”/finance/markets”,”name”:”Markets Home”},{“url”:”/finance/markets/us”,”name”:”U.S. Markets”},{“url”:”/finance/markets/europe”,”name”:”European Markets”},{“url”:”/finance/markets/asia”,”name”:”Asian Markets”},{“url”:”/finance/global-market-data”,”name”:”Global Market Data”},{“url”:”/markets/stocks”,”name”:”Stocks”},{“url”:”/markets/bonds”,”name”:”Bonds”},{“url”:”/finance/currencies”,”name”:”Currencies”},{“url”:”/finance/commodities”,”name”:”Commodities”},{“url”:”/finance/funds”,”name”:”Funds”},{“url”:”/finance/EarningsUS”,”name”:”Earnings”},{“url”:”/finance/markets/dividends”,”name”:”Dividends”},{“url”:”/finance/exchange-traded-funds”,”name”:”Exchange-Traded Funds”},{“url”:”/subjects/us-lipper-awards”,”name”:”Lipper Awards”},{“url”:”https://stockscreener.us.reuters.com/Stock/US/Index?quickscreenu003dgaarp”,”name”:”Stock Screener”},{“url”:”https://funds.us.reuters.com/US/screener/screener.asp”,”name”:”Fund Screener”}]},{“url”:”/news/world”,”name”:”World”,”children”:[{“url”:”/news/world”,”name”:”World Home”},{“url”:”/news/us”,”name”:”U.S.”},{“url”:”/subjects/specialReports”,”name”:”Special Reports”},{“url”:”//www.reuters.com/investigates/”,”name”:”Reuters Investigates”},{“url”:”/subjects/euro-zone”,”name”:”Euro Zone”},{“url”:”/subjects/middle-east”,”name”:”Middle East”},{“url”:”/places/china”,”name”:”China”},{“url”:”/places/japan”,”name”:”Japan”},{“url”:”/places/mexico”,”name”:”Mexico”},{“url”:”/places/brazil”,”name”:”Brazil”},{“url”:”/places/africa”,”name”:”Africa”},{“url”:”/places/russia”,”name”:”Russia”},{“url”:”/places/india”,”name”:”India”}]},{“url”:”/politics”,”name”:”Politics”,”children”:[{“url”:”/politics”,”name”:”Politics Home”},{“url”:”http://polling.reuters.com”,”name”:”Polling Explorer”},{“url”:”/subjects/supreme-court”,”name”:”Supreme Court”}]},{“url”:”/news/technology”,”name”:”Tech”,”children”:[{“url”:”/news/technology”,”name”:”Technology Home”},{“url”:”/news/science”,”name”:”Science”},{“url”:”/news/media”,”name”:”Media”},{“url”:”/energy-environment”,”name”:”Energy and Environment”},{“url”:”/innovation”,”name”:”Innovation”}]},{“url”:”/commentary”,”name”:”Commentary”,”children”:[{“url”:”/commentary”,”name”:”Commentary Home “},{“url”:”/tools/podcasts/”,”name”:”Podcasts”}]},{“url”:”/breakingviews”,”name”:”Breakingviews”,”children”:[{“url”:”/breakingviews”,”name”:”Breakingviews Home”},{“url”:”/video/breakingviews”,”name”:”Breakingviews Video”}]},{“url”:”/finance/wealth”,”name”:”Wealth”,”children”:[{“url”:”/finance/wealth”,”name”:”Wealth Home”},{“url”:”/finance/personal-finance/retirement”,”name”:”Retirement”},{“url”:”/finance/personal-finance/analyst-research”,”name”:”Analyst Research”}]},{“url”:”/news/lifestyle”,”name”:”Life”,”children”:[{“url”:”/news/health”,”name”:”Health”},{“url”:”/news/sports/soccer”,”name”:”Soccer”},{“url”:”/news/sports”,”name”:”Sports”},{“url”:”/news/entertainment/arts”,”name”:”Arts”},{“url”:”/news/entertainment”,”name”:”Entertainment”},{“url”:”/news/oddlyEnough”,”name”:”Oddly Enough”}]},{“url”:”/news/pictures”,”name”:”Pictures”,”children”:[{“url”:”/news/pictures”,”name”:”Pictures Home”},{“url”:”http://widerimage.reuters.com”,”name”:”The Wider Image”},{“url”:”http://widerimage.reuters.com/photographer”,”name”:”Photographers”},{“url”:”/focus-360/”,”name”:”Focus 360″}]},{“url”:”/video”,”name”:”Video”}],”config”:{“edition”:”BETAUS”,”lang”:”en”}},”article_list_mynakoumng”:{“template”:”article_list”,”fisco_kyodo_disclaimer”:””,”render_key”:”article_list_mynakoumng”,”quote_path”:”/finance/stocks/overview”,”tracking_data”:{“channel”:”News”,”content_type”:”Article”,”content_type_channel”:”News”,”content_channel”:”Homepage – Homepage”,”topic_channel”:”Homepage”,”topic_subchannel”:”Homepage”},”dart_domain”:”us.reuters”,”fisco_kyodo_key”:””,”sharetools”:[“twitter”,”facebook”],”chartbeat”:”{“data”:[{“video_link”:”http:\/\/www.reuters.com\/article\/video\/idUSKCN1LN0ZD?videoIdu003d462136289″,”_hits”:”903″,”source”:”chartbeat”,”title”:”Russia, Turkey, Iran fail to agree on ceasefire for Syriau0027s Idlib”,”url”:”http:\/\/www.reuters.com\/article\/us-mideast-crisis-syria\/iran-russia-turkey-to-decide-fate-of-syrias-idlib-in-tehran-summit-idUSKCN1LN0ZD”},{“video_link”:”http:\/\/www.reuters.com\/article\/video\/idUSKCN1LN17V?videoIdu003d462120704″,”_hits”:”329″,”source”:”chartbeat”,”title”:”Obama rebukes Trump and Republicans for u0027abuses of power,u0027 urges Democrats to vote”,”url”:”http:\/\/www.reuters.com\/article\/us-usa-election-obama\/obama-speech-to-urge-big-democratic-turnout-in-november-elections-idUSKCN1LN17V”},{“video_link”:””,”_hits”:”254″,”source”:”chartbeat”,”title”:”EUu0027s Barnier says ready for new Irish border solutions as Brexit deadline looms”,”url”:”http:\/\/www.reuters.com\/article\/us-britain-eu-barnier\/eus-barnier-says-ready-for-new-irish-border-solutions-as-brexit-deadline-looms-idUSKCN1LN1RZ”},{“video_link”:”http:\/\/www.reuters.com\/article\/video\/idUSKCN1LN1OG?videoIdu003d462150685″,”_hits”:”161″,”source”:”chartbeat”,”title”:”Ex-Trump campaign aide Papadopoulos sentenced to 14 days in prison”,”url”:”http:\/\/www.reuters.com\/article\/us-usa-trump-russia-papadopoulos\/ex-trump-campaign-aide-papadopoulos-to-be-sentenced-friday-for-lying-to-fbi-idUSKCN1LN1OG”},{“video_link”:”http:\/\/www.reuters.com\/article\/video\/idUSKCN1LN1MH?videoIdu003d462044303″,”_hits”:”127″,”source”:”chartbeat”,”title”:”Tesla shares reel as executives quit and CEO smokes pot on webcast”,”url”:”http:\/\/www.reuters.com\/article\/us-tesla-moves\/tesla-chief-accountant-resigns-one-month-after-joining-idUSKCN1LN1MH”}]}”,”video_url”:”https://queso-cdn.prod.reuters.tv/new/index.html”,”trustBadge_excludedChannels”:”false”,”first_article”:{“id”:”USKCN1LN2JY”,”source”:”RCOM”,”layout_type”:”default”,”channel”:{“text”:”Business News”,”path”:”/news/archive/businessNews”},”headline”:”Apple says U.S. tariffs on China would hit u0027wide rangeu0027 of products”,”authors”:[{“name”:”Stephen Nellis”,”journalist_url”:”/journalists/stephen-nellis”}],”shareUrl”:”https://reut.rs/2NwLgcY”,”published”:1536351317,”updated”:1536364670,”path”:”/article/us-apple-tariffs/apple-says-u-s-tariffs-on-china-would-hit-wide-range-of-products-idUSKCN1LN2JY”,”body”:”u003cpu003eBy Stephen Nellisu003c/pu003enu003cpu003e(Reuters) – A “wide range” of Apple Inc (u003cspan idu003d”symbol_AAPL.O_0″u003eAAPL.Ou003c/spanu003e) products including the Apple Watch would be affected by proposed U.S. tariffs on Chinese goods, the company told U.S. trade officials, but gave no sign of an impact on its iPhone cash cow.u003c/pu003enu003cpu003eApple did not disclose specific revenues for most of the affected products, but of those the Apple Watch may be the biggest seller. It brought in about $6.1 billion in revenue last year, according to an estimate from analyst firm Bernstein. That represents a small portion of Appleu0027s $229 billion in overall sales.u003c/pu003enu003cpu003eApple laid out the impact on its products of the Trump administrationu0027s proposed tariffs on $200 billion worth of Chinese goods in an unsigned letter it submitted on Wednesday to U.S. officials as part of a public comment period.u003c/pu003enu003cpu003eOn Friday, U.S. President Donald Trump, speaking aboard Air Force One, said that he has tariffs on an additional $267 billion in Chinese goods “ready to go on short notice if I want.” u003c/pu003enu003cpu003eCell phones, the biggest U.S. import from China, have so far been spared, but would be hit if Trump activates the new $267 billion tariff list.u003c/pu003enu003cpu003eAirPods headphones, some of Appleu0027s Beats headphones and its new HomePod smart speaker also face levies as part of the proposed tariffs on $200 billion worth of Chinese goods, according to the letter submitted on Wednesday.u003c/pu003enu003cpu003e”Our concern with these tariffs is that the U.S. will be hardest hit, and that will result in lower U.S. growth and competitiveness and higher prices for U.S. consumers,” Apple said in the letter.u003c/pu003enu003cpu003eApple did not respond to requests for comment.u003c/pu003enu003cpu003eThe letter did not mention the iPhone, which accounted for about two-thirds of Appleu0027s $229 billion in revenue in its most recent fiscal year. The letter also made no mention of the iPad, which brought in $19.2 billion in sales in the most recent year, or most of its Mac computers, which generated $25.8 billion. u003c/pu003enu003cpu003eApple did say its MacMini, a low-priced computer that comes without a keyboard or mouse, would be affected.u003c/pu003enu003cpu003eMany Apple accessories, such as mice, keyboards, chargers and even leather covers for iPhones and iPads would face tariffs, Apple said.u003c/pu003enu003cpu003eReuters reported in July that the Apple Watch was likely to be affected by the tariffs.u003c/pu003enu003cpu003eShares of Apple closed down 0.8 percent in regular Nasdaq trade on Friday, and slipped another 1 percent in extended trading.u003c/pu003enu003cpu003eApple also said that computer parts for its U.S. operations would be hit by the tariffs. The company said that “main logic boards with microprocessing units” could face levies, along with equipment used for research and development.u003c/pu003enu003cpu003eOn Appleu0027s most recent earnings call in July, Chief Executive Officer Tim Cook said the company could face such tariffs “related to data centers.”u003c/pu003enu003cpu003eIn its letter, Apple argued that the way U.S. trade officials calculate the U.S. trade balance – attributing the entire value of a product to a country like China where final assembly happens – fails to reflect the true value that Apple generates in the United States. The company noted it spent $50 billion with 9,000 U.S. suppliers in its most recent fiscal year, including Texas-based chip firm Finisar Corp and Kentucky-based Corning Inc.u003c/pu003enu003cpu003e”Given the balance of Appleā€™s economic footprint, the burden of the proposed tariffs will fall much more heavily on the United States than on China,” Apple said in its letter.u003c/pu003enu003cpu003eThe technology sector is one of the biggest potential losers in the proposed $200 billion tariff list. Fitness tracker maker Fitbit (u003cspan idu003d”symbol_FIT.N_1″u003eFIT.Nu003c/spanu003e) said it would be hit by tariffs, and chipmaker Intel Corp (u003cspan idu003d”symbol_INTC.O_2″u003eINTC.Ou003c/spanu003e) said the levies could slow down the adoption of 5G networks, the next generation of wireless data technology for phones and other devices.u003c/pu003enu003cpu003eu003c/pu003en”,”attribution”:{“type”:”default”,”content”:”Reporting by Stephen Nellis in San Francisco; additional reporting by Laharee Chatterjee in Bengaluru; editing by Tom Brown and Leslie Adler”},”images”:[{“url”:”//s1.reutersmedia.net/resources/r/?mu003d02u0026du003d20180907u0026tu003d2u0026iu003d1301998083u0026ru003dLYNXNPEE861OA”,”title”:”FILE PHOTO: Apple watches are seen at a new Apple store in Chicago”,”caption”:”FILE PHOTO: Apple watches are seen at a new Apple store in Chicago, Illinois, U.S., October 19, 2017. REUTERS/John Gress/File Photo”},{“url”:”//s4.reutersmedia.net/resources/r/?mu003d02u0026du003d20180907u0026tu003d2u0026iu003d1301998082u0026ru003dLYNXNPEE861O9″,”title”:”FILE PHOTO: Apple AirPods during a media event in San Francisco”,”caption”:”FILE PHOTO: Apple AirPods are displayed during a media event in San Francisco, California, U.S. on September 7, 2016. REUTERS/Beck Diefenbach/File Photo”}],”videos”:[{“id”:”RCV005KW7″,”url”:”//vm.reuters.tv/b9551/260359_LONG_APPLETARIFFWARNING(260373_R21MP41500).mp4″,”title”:”As Apple warns against tariffs, Trump threatens more”,”duration”:114,”caption”:”Apple earlier this week in a a letter to the U.S. Trade Representativeu0027s office warned that tariffs on $200 billion dollars worth of goods from China would hit some of its products, but President Trump is now threatening a new round of tariffs that would slap duties on all good from China.”,”thumbnail”:”//s3.reutersmedia.net/resources/r/?du003d20180907u0026tu003d2u0026iu003dRCV005KW7u0026ru003dRCV005KW7″,”storyUrl”:”/video/2018/09/07/as-apple-warns-against-tariffs-trump-thr?videoIdu003d462134796″,”adFriendly”:true,”channelIds”:”13421,13979,5,1″}],”channel_stories”:[{“id”:”USKCN1LN1MH”,”updated”:1536366662,”headline”:”Tesla shares reel as executives quit and CEO smokes pot on webcast”,”path”:”/article/us-tesla-moves/tesla-shares-reel-as-executives-quit-and-ceo-smokes-pot-on-webcast-idUSKCN1LN1MH”,”image”:”//s3.reutersmedia.net/resources/r/?mu003d02u0026du003d20180907u0026tu003d1u0026iu003d1301960101u0026ru003dLYNXNPEE8610M”},{“id”:”USKCN1LN2R1″,”updated”:1536366031,”headline”:”Alibaba co-founder Jack Ma to retire: New York Times”,”path”:”/article/us-alibaba-moves/alibaba-co-founder-jack-ma-to-retire-new-york-times-idUSKCN1LN2R1″,”image”:”//s3.reutersmedia.net/resources/r/?mu003d02u0026du003d20180907u0026tu003d1u0026iu003d1302031457u0026ru003dLYNXNPEE861S5″},{“id”:”USKCN1LN1JI”,”updated”:1536335911,”headline”:”Third Point launches proxy fight for full Campbell board”,”path”:”/article/us-campbell-soup-thirdpoint/third-point-launches-proxy-fight-for-full-campbell-board-idUSKCN1LN1JI”,”image”:”//s3.reutersmedia.net/resources/r/?mu003d02u0026du003d20180907u0026tu003d1u0026iu003d1301864984u0026ru003dLYNXNPEE860Z6″}],”description”:”A “wide range” of Apple Inc u0026lt;AAPL.Ou0026gt; products including the Apple Watch would be affected by proposed U.S. tariffs on Chinese goods, the company told U.S. trade officials, but gave no sign of an impact on its iPhone cash cow.u003c/p”,”dart_zone”:”us.reuters/tech/article”,”link_to_parent”:false,”show_others_in_parent”:false,”canvas_enable”:false},”translations”:{“shared”:{“disclaimer”:”Disclaimer”,”sponsored_content”:”Sponsored”,”related_coverage”:”Related Coverage”,”sponsored_topics”:”Sponsored”,”sponsored_stories”:”Sponsored”,”updated”:”Updated []”,”slideshow”:”Slideshow”,”featured”:”Featured”,”edition”:”Edition”,”trending”:”Trending”,”advertisement”:”Advertisement”,”visit_now”:”Visit Now”,”show_full_article”:”Show Full Article”,”breaking_news”:”Breaking News”,”live_update”:”Live Update”,”the_wire”:”The Wire”,”image_count”:”[] Images”,”sections”:”Sections”,”get_the_app_banner_top”:”Better questions. Better answers.”,”get_the_app_banner_CTA”:”GET THE APP”,”get_the_app_banner_URL”:”https://smart.link/59c13e7a45835?utm_sourceu003dmobile_webu0026utm_mediumu003dsmartbanner”,”exclusivereport”:”Exclusive”,”liveevent”:”Live”,”livevideo”:”Live Video”,”specialreport”:”Special Report”,”reutersinvestigates”:”Reuters Investigates”,”reutersfocus”:”Reuters Focus”},”article”:{“byline”:”[]”,”defaultByline”:”Reuters Staff”,”min_read”:”[] Min Read”,”back_to_article”:”Back To Article”,”related_video”:”Related Video”,”trust_badge_title”:”Our Standards:”,”trust_badge_link_text”:”The Thomson Reuters Trust Principles.”,”trust_badge_link_url”:”http://thomsonreuters.com/en/about-us/trust-principles.html”},”markets”:{“yield”:”Yield”,”change”:”Change”,”percent_change”:”Change %”,”latest”:”Latest”,”last”:”Last”,”current”:”Current”,”price”:”Price”,”index”:”Index”,”future”:”Future”,”rate”:”Rate”,”name”:”Name”,”showAll”:”Show All”,”exp”:”Exp.”,”expire”:”Expire”,”time”:”Time”,”currency”:”Currency”}},”ad_slots”:{“first_canvas_type”:”leaderboard”,”first_canvas_sizes”:”[[728, 90],[970,250],[970,90],[1100,100],[1,1]]”,”first_canvas_hb”:”yes”,”canvas_type”:”leaderboard”,”canvas_sizes”:”[[1100,100],[1100,200],[1100,300],[728, 90],[970,250],[970,90],[1,1],[2,2]]”,”canvas_hb”:”yes”,”rr_mpu_type”:”mpu”,”rr_mpu_sizes”:”[[300,250], [1,1]]”,”rr_mpu_hb”:”yes”,”rr_big_type”:”bizdev_article_rr1″,”rr_big_sizes”:”[[300,462],[300,372],[1,1]]”,”rr_mpu2_type”:”bizdev_article_rr2″,”rr_mpu2_sizes”:”[[300,280]]”,”rr_big2_type”:”bizdev_article_rr3″,”rr_big2_sizes”:”[[300,440]]”,”inline_native_type”:”native”,”inline_native_sizes”:”[[2,2],[1,1], “fluid”]”,”horizontal_bottom_article_type”:”bizdev_article_center”,”horizontal_bottom_article_sizes”:”[[300,300],[1,1],”fluid”]”,”leaderboard_low_type”:”leaderboardlow”,”leaderboard_low_sizes”:”[[728,90], [970,250], [1100,100], [1100,200], [1100,300], [1,1]]”,”mobile_first_canvas_type”:”leaderboard”,”mobile_first_canvas_sizes”:”[[1100,300],[1100,100],[1,1]]”,”mobile_first_canvas_hb”:”no”,”mobile_canvas_type”:”leaderboard”,”mobile_canvas_sizes”:”[[1100,100],[1100,200],[1100,300],[300,250],[1,1]]”,”mobile_canvas_hb”:”no”,”mobile_mpu_type”:”mpu”,”mobile_mpu_sizes”:”[[300,250],[1100,375], [1,1]]”,”mobile_big_type”:”bizdevmobwebfooter”,”mobile_big_sizes”:”[[300,472],[1,1]]”,”mobile_mpu2_type”:”bizdevmobwebfooter_1″,”mobile_mpu2_sizes”:”[[300,250], [1,1]]”},”ab_testing”:”false”},”footer_n6gpfo4gsl”:{“template”:”footer”,”data”:{“site_links”:[{“text”:”Apps”,”url”:”//www.reuters.com/tools/mobile”,”mobile_url”:”//mobile.reuters.com/tools/mobile”},{“text”:”Newsletters”,”url”:”//newslink.reuters.com/join/subscribe”,”mobile_url”:”//newslink.reuters.com/join/subscribe”},{“text”:”Advertise with Us”,”url”:”//sales.reuters.com/en/ “,”mobile_url”:”//sales.reuters.com/en/ “},{“text”:”Advertising Guidelines”,”url”:”//www.reuters.com/advertising-guidelines”,”mobile_url”:”//www.reuters.com/advertising-guidelines”},{“text”:”Cookies”,”url”:”//info.evidon.com/pub_info/285″,”mobile_url”:”//info.evidon.com/pub_info/285″},{“text”:”Terms of Use”,”url”:”//www.reuters.com/terms-of-use”,”mobile_url”:”//mobile.reuters.com/terms-of-use”},{“text”:”Privacy”,”url”:”https://www.thomsonreuters.com/en/privacy-statement.html”,”mobile_url”:”https://www.thomsonreuters.com/en/privacy-statement.html”}],”social_links”:[{“id”:”twitter”,”url”:”https://twitter.com/reuters “},{“id”:”facebook”,”url”:”https://www.facebook.com/Reuters”},{“id”:”youtube”,”url”:”https://www.youtube.com/user/ReutersVideo”},{“id”:”instagram”,”url”:”https://instagram.com/reuters/”},{“id”:”linkedin”,”url”:”https://www.linkedin.com/company/10256858/”},{“id”:”rss”,”url”:”//www.reuters.com/tools/rss”}],”disclaimer”:{“text”:”All quotes delayed a minimum of 15 minutes. See [here for a complete list] of exchanges and delays.”,”url”:”//www.reuters.com/info/disclaimer”},”copyright”:{“text”:”Reuters. All Rights Reserved.”,”url”:”//thomsonreuters.com/copyright/ “}},”render_key”:”footer_n6gpfo4gsl”}};
var _sf_startpt = (new Date()).getTime();
var _sf_async_config = _sf_async_config || {};

_sf_async_config.playerdomain = ‘queso-cdn.prod.reuters.tv’;
_sf_async_config.sections = ‘Homepage’;
_sf_async_config.autoDetect = false;

_sf_async_config.authors = ‘Stephen Nellis’;
_sf_async_config.type = ‘Article’;

(function(){
function loadChartbeat() {
window._sf_endpt=(new Date()).getTime();
var e = document.createElement(‘script’);
e.setAttribute(‘language’, ‘javascript’);
e.setAttribute(‘type’, ‘text/javascript’);
e.setAttribute(‘src’, ‘//static.chartbeat.com/js/chartbeat_video.js’);
document.body.appendChild(e);
}
var oldonload = window.onload;
window.onload = (typeof window.onload != ‘function’) ?
loadChartbeat : function() { oldonload(); loadChartbeat(); };
})();

/* 20180908022741 */ !function(e,t,n){function a(t,n){var a=0,i=50,u=!1,r=e.setInterval(function(){t()&&(e.clearInterval(r),n(u)),a++>i&&(e.clearInterval(r),u=!0,n(u))},10)}function u(e){var t=e.toLowerCase();if(0===t.indexOf(“msie”)&&0===t.indexOf(“trident”))return!1;var n=/(?:msie|rv:)s?([d.]+)/.exec(t);return!!(n&&parseInt(n[1],10)>=10)}function r(e,t){try{var n,i=new RegExp(“Firefox/([0-9]+)[.]{1}”);if(t.webkitRequestFileSystem)t.webkitRequestFileSystem(t.TEMPORARY,1,function(){n=!1},function(e){n=!0});else if(t.indexedDB&&/Firefox/.test(t.navigator.userAgent)&&i.exec(t.navigator.userAgent)[1]>50&&i.exec(t.navigator.userAgent)[1]-1)e.style.setProperty(“bottom”,”80px”),e.style.setProperty(“position”,”absolute”),e.style.setProperty(“left”,”800px”);else{for(var t,a=document.querySelectorAll(“.dark.group”),i=e.parentNode,u=i;i.scrollHeight-e.scrollHeight-1&&t.indexOf(“wrap”)>-1?i:i.parentNode,i=i.parentNode;window.addEventListener&&window.addEventListener(“scroll”,function(t){if(u.getBoundingClientRect().bottom=f&&clearInterval(g)},500),x=!1;if(e.uabpnewinject||e.uabpFlags.newInject)for(var m,y=document.styleSheets,R=0;R-1){x=!1;break}if(e.uabpnewinject4||e.uabpFlags.newInject4){m=Object.values(y[R].ownerNode.attributes);for(var B=0;B-1){x=!1;break}}if(x){try{setTimeout(b(q,n),500)}catch(e){}break}}}catch(e){}if(!e.uabpnewinject&&!e.uabpFlags.newInject||!x){var E=j(“style”);E.type=”text/css”,C(E,”.NPFyqRSpy {width: 760px;}.NPFyqRSpy img {cursor: pointer;}.o9TjgdDu {width: 760px;}#tDTDeT {margin-bottom: 10px;}@media screen and (min-width: 375px) {#tDTDeT:before {left: -125px;}}@media screen and (max-width: 374px) {#tDTDeT:before {text-align: left !important;}}#tDTDeT img {cursor: pointer;display: initial;}#ttPJBt {position: relative;text-align: center;padding-left: 20px;padding-right: 20px;}#EAQsWwXLA {min-height: 286px;margin-top: 45px;direction: rtl;}#EAQsWwXLA img {cursor: pointer;}.nUYqOKHqZ {text-align: center;margin: 0 auto;width: 970px;}.nUYqOKHqZ img {cursor: pointer;max-width: initial;display: initial;}.n3287jDj {text-align: center;width: 970px;margin: 0px auto;}#AZZCts {width: 1100px;margin: 30px auto;position: relative;}#AZZCts:empty {display: none;}@media screen and (max-width: 1200px) {#AZZCts {width: 940px;}}.HmznKPfCf {position: relative;z-index: 9;}.HmznKPfCf img {cursor: pointer;}.nXXgAca img {cursor: pointer;}.MYWlmHbsk {position: absolute;z-index: 1;transition: top 1s ease-in 0s;}.MYWlmHbsk img {cursor: pointer;max-width: initial;}.ULqCpR {float: left;}@media print {#ttPJBt,#EAQsWwXLA,#AZZCts,.ULqCpR,.NPFyqRSpy,#tDTDeT,.nUYqOKHqZ,.HmznKPfCf,.nXXgAca,.MYWlmHbsk{display:none;}} .uabpHid {display:none !important;}”),N(ue,E),setTimeout(w(n),0)}(e.uabpdisableab||e.uabpFlags.disableAb)&&c(t.documentElement)}}function g(e,t){if(t-1&&(e.uabpforceimp||e.uabpFlags.forceImp)&&J(i),k(i,”EAQsWwXLA”),M(i,”tZGYRUN “),a.nextSibling?D(a.nextSibling,i):N(a.parentNode,i),e.uabpd4.w[5501]=i}}if(!e.uabpMobile){var a=o(“”+function(){return document.querySelector(“.sec-top-overflow”)?”.sec-top-overflow”:”#content > #overlayForSearch, .CanvasAd_container”}(),””);if(a){var i=j(“div”);n.BILLWrapper=i,t.BILLWrapper=i,navigator.userAgent.toLowerCase().indexOf(“chrome”)>-1&&(e.uabpforceimp||e.uabpFlags.forceImp)&&J(i),k(i,”AZZCts”),y([{selector:”.sec-top-overflow”,cssApply:{“margin-bottom”:”0″}}],i),a.nextSibling?D(a.nextSibling,i):N(a.parentNode,i),e.uabpd4.w[5118]=i}}if(location.href.indexOf(“/article/”)>-1){var a=o(‘div[class*=”content”] > div[class*=”left”] + div[class*=”right”]’,””);if(a){var i=j(“div”);n.RightRailImageWrapper=i,t.RightRailImageWrapper=i,navigator.userAgent.toLowerCase().indexOf(“chrome”)>-1&&(e.uabpforceimp||e.uabpFlags.forceImp)&&J(i),M(i,”ULqCpR “),D(a,i),e.uabpd4.w[5121]=i}}}function q(t,n){if(e.uabpPtl=6,e.uabpPl=0,location.href.indexOf(“/article/”)>-1){var a=n.ARTENDWrapper,i=!1;a?Z(V(“22v51uhxwhuvphgld1qhw22uhvrxufhvby432u2Bd@4)p@;9)g@53493844)w@7)l@9

Related posts

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.