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Apple CEO warns Trump about China tariffs, Samsung competition

Published 08/19/2019, 07:33 AM
Updated 08/19/2019, 07:33 AM
© Reuters. FILE PHOTO: Apple CEO Cook and U.S. President Trump participate in American Workforce Policy Advisory Board meeting at the White House in Washington

(Reuters) - President Donald Trump said on Sunday that he had spoken with Apple (NASDAQ:AAPL) Inc's Chief Executive Tim Cook about the impact of U.S. tariffs on Chinese imports as well as competition from South Korean company Samsung Electronics (KS:005930) Co Ltd.

Trump said Cook "made a good case" that tariffs could hurt Apple, given that Samsung's products would not be subject to those same tariffs. Tariffs on an additional $300 billion worth of Chinese goods, including consumer electronics, are scheduled to go into effect in two stages on Sept. 1 and Dec. 15.

By contrast, the United States and South Korea struck a trade agreement last September.

"I thought he made a very compelling argument, so I'm thinking about it," Trump said of Cook, speaking with reporters at a New Jersey airport.

U.S. stock futures rose upon opening on Sunday after Trump's comments. In addition to his comments on Apple, Trump said on Twitter earlier in the day that his administration was "doing very well with China."

Apple's MacBook laptops and iPhones would not face the additional tariffs until Dec. 15, but some of the company's other products, including its AirPods, Apple Watch and HomePod, would be subject to the levies on Sept. 1.

Apple was not immediately available for comment outside normal business hours.

© Reuters. FILE PHOTO: Apple CEO Cook and U.S. President Trump participate in American Workforce Policy Advisory Board meeting at the White House in Washington

Latest comments

Mr. Tim, you need to work better and whine less.
I'm sure Tim Cook's suffering really bothers GEOTUS. /s
Samsung phones are far better than iphones.
samsung is bright bauble
Samaung makes better phones anyways. But every American already knows what Cook taught Trump. Sad.
Wasnt sumsung the phones that werent aloowedbon airlines because of battery fires
it is better. disposable phones. called and threw it away.
How about put all heavy tariffs on all mobile phones. Nobody afford to buy, no phone no extra work. even no twitters... insane but great
you misunderstand how trump thinks, so Samsung will be a problem, guess we'll just have to put tariffs on samsung, problem solved
You put tarriffs on Apple and Samsung, then that mean consumers will not be buying any phones this Christmas, the end.
won't be buying em anyway. just get the battery replaced. anything with 4gb ram and decent cpu is good enough for most folks.
Tim cook nobody likes you
I told you guys, Trump will not be able to put that 10% tarriffs on. If he does, US will experience a dark Christmas. US will lose amrket shares to competitors, so Trump would be out of his mind to do tarriffs.
get that book deal yet...about all the times you told us :)
In told you guys...Lol. :)
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