- President Donald Trump met with Apple CEO Tim Cook on Friday.
- Trump informed reporters on Sunday that Cook had warned about tariffs hurting Apple and benefiting its primary smartphone rival Samsung.
- Apple will see tariffs slapped on the iPhone, its laptops, AirPods, and a host of other gadgets for the reason that they are typically produced in China. Samsung will not have to have to pay out equivalent tariffs.
- This is a significant reversal from Cook, who final July explained he was “optimistic” that China and the US would resolve their trade dispute.
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President Donald Trump explained on Sunday that he had spoken with Apple CEO Tim Cook about the effect of US tariffs on Chinese imports as nicely as competitors from South Korean corporation Samsung.
Trump explained Cook “made a good case” that tariffs could harm Apple provided that Samsung’s items would not be topic to people similar tariffs.
Tariffs on an supplemental $300 billion well worth of Chinese products, which include shopper electronics, are scheduled to go into result in two phases on Sept. one and Dec. 15.
The levies will effect Apple’s variety of laptops, the iPhone, Airpods, the Apple Observe, and the HomePod good speaker. That could possibly lead to price tag rises, and make Apple’s gadgets substantially additional high-priced than people provided by its primary competitor Samsung.
By contrast, the United States and South Korea struck a trade agreement final September.
“I thought he made a very compelling argument, so I’m thinking about it,” Trump explained of Cook, speaking with reporters at a New Jersey airport.
It is a reversal from Cook, who has explained small publicly about the effect of China tariffs on Apple’s lineup of items. He informed traders final July that he was optimistic that the US and China could resolve trade tensions.
“I can’t predict the future, but I am optimistic that the countries will get through this,” he said at the time. “We are hoping that calm heads prevail.”
US stock futures rose on opening on Sunday soon after Trump’s feedback. In addition to his feedback on Apple, Trump explained on Twitter earlier in the day that his administration was “doing very well with China.”
Apple was not promptly out there for comment outdoors regular organization hrs.
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