“Most electronic devices are made in China. So actually ‘Made in China’ helps U.S. consumers to enjoy the lower-price, high-quality products. I think probably now, more U.S. brands are operating in China than Chinese brands operating in the U.S. At Lenovo we try to build a global brand, it’s not a Chinese brand.”
During his presidential campaign, Trump threatened to slap a 45 percent tariff on Chinese imports in the U.S. Last week, the president also labelled China the “grand champions” of currency manipulation. Treasury Secretary Steven Mnuchin told CNBC on Thursday that the Trump administration would stick with existing processes on judging whether China manipulates its currency to gain unfair trade advantages. By those criteria, however, China does not match the U.S. definition of a currency manipulator.
Yang said however that the broader anti-global sentiment from Trump is a “concern” and could hurt global businesses. Lenovo is the world’s largest PC maker and is aggressively growing its smartphone business via the Motorola brand which it owns. It also sells devices in the U.S.
“Globalisation is important. It has benefited everybody,” Yang told CNBC.