Apple CEO Tim Cook reportedly told President Trump in a conversation that tariffs on China could hurt Apple and help companies such as Samsung.
CNET reports that Apple CEO Tim Cook told President Trump in a recent conversation that U.S. tariffs on China could hurt Apple’s business while helping competitors such as Samsung. President Trump met with the Apple CEO recently, with the President stating: “I had a very good meeting with Tim Cook. Tim was talking to me about tariffs. And one of the things, and he made a good case, is that Samsung is their number one competitor, and Samsung is not paying tariffs because they’re based in South Korea.”
The President continued: “It’s tough for Apple to pay tariffs if they’re competing with a very good company that’s not. I said, ‘How good a competitor?’ He said they are a very good competitor. So Samsung is not paying tariffs because they’re based in a different location, mostly South Korea but they’re based in South Korea. And I thought he made a very compelling argument, so I’m thinking about it.”
New tariffs on Chinese imports are set it to come into effect on September 1 which could raise prices on electronics by 10 percent, this could include Apple devices such as AirPods and Apple Watches. Apple products like MacBooks, iPads, and iPhones would likely not be affected but they could be affected by new tariffs set to come into effect on December 15.
President Trump has called on Apple to build its devices in the United States, where the firm already does the majority of its research and development. The President tweeted on Friday: “Having dinner tonight with Tim Cook of Apple. They will be spending vast sums of money in the U.S. Great!”