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Transcript

00:00:00
>> Got nothing.>> Worried about the Trump Administration's trade policies, big US companies from Amazon to General Motors to Alcoa are working to counter the effect of the tarriffs and head off new ones. Reuters Jeffrey Dastin.>> Companies do not want to aggrevate their relationship with the Trump administration, so they are working back channels and trying to convey their perspectives in other ways.
00:00:24
Sources say General Motors is set to hire Trump's former Deputy Director of the National Economic Council. And this person, Everett Eissenstat, will surely help the company express its opinion on tariffs to the administration. At the same time, we've learned that Amazon is discussing an issue wide ad campaigns.
00:00:45
Also, it's looking into more extensive outreach to the US government.>> Companies already suffering from the current tariffs are also pushing for relief in private. Aluminum producer Alcoa CEO told investors that the company was in active discussions with the government about eliminating tariffs or getting an exception for Canadian aluminum.
00:01:04
Alcoa said tariffs on aluminum from Canada will result in as much as $14 million a month in extra expenses. And a threat by the Trump administration to slap 10% tariffs on another $200 billion worth of goods from China could hit consumers closer to home.>> One source I spoke to said that Amazon is worried these tariffs could hit shoppers right at Christmas.
00:01:27
The company has already identified some high value items that are on this tariffs list. In addition, it is worried that this will actually make it less competitive in the cloud computing industry where it is the biggest company in the world by revenue. And that can mean more expensive components that it will have to import for its data centers, as well as potential retaliation or a threat of some kind by China, where it is trying to actually grow and establish a strong cloud computing business.
00:01:57
>> While lobbying in Washington can be costly, for some it's paid off. The New York Times reported last month, for example, that Apple, one, guarantees that its lucrative iPhones would ship from China without being subject to tariffs.