Republican vice presidential nominee Sen. JD Vance on Thursday took a shot at Apple on CNBC’s “Squawk Box,” saying he thinks the corporate advantages from “slave labor” in China. His remark was a part of a broader dialog about taxing corporations that depend on manufacturing in China.
“Do I think Apple is an evil company? No. Do I think that sometimes they benefit from Chinese slave labor? Yeah, and that’s pretty sick,” stated Vance, of Ohio. “I think that a company that wants to benefit from American markets should also have to pay American workers a fair wage.” Apple raised the beginning wage for retail workers in Could 2022 to $22 an hour.
Apple has beforehand stated that it has discovered no proof of pressured labor wherever it operates. The corporate had been requested by the previous chairs of the Congressional-Govt Fee on China in 2021 to interact with U.S. Customs and Border Safety to make sure its provide chain is freed from pressured labor.
Apple didn’t instantly reply to CNBC’s request for remark.
The iPhone maker companions with producers that construct its gadgets abroad. Apple has traditionally relied on China for its manufacturing. As relations between the U.S. and China have grow to be strained, it has labored to diversify its provide chain by increasing manufacturing to nations comparable to Vietnam and India.
For instance, Apple produced $14 billion value of iPhones in India during the last fiscal 12 months.
Vance additionally stated Thursday that he needs to boost tariffs on corporations “shipping jobs overseas.” Former President Donald Trump has threatened extra tariffs of 60% to 100% on items from China and blanket tariffs of 10% to twenty% on imported items.
Vance expressed help for Federal Commerce Fee Chair Lina Khan’s antitrust crackdown and stricter guidelines on mergers.
“When you will have corporations like Fb and Google censoring American citizens, making it harder for Americans to speak in their own political process, that is a major problem,” Vance stated. “And yeah, I do think that there should be an antitrust solution to it.”
Meta and Google didn’t instantly reply to CNBC’s requests for remark.
On Thursday, Vance will headline two fundraisers in New York Metropolis hosted by a few of his high supporters within the monetary trade. Every occasion is predicted to boost greater than $1 million for Trump’s presidential marketing campaign.
