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Trump considering whether Apple should be exempt from China tariffs

Stock Markets Nov 20, 2019 08:21PM ET
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© Reuters. U.S. President Trump tours Apple Computer plant in Austin, Texas
 
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AUSTIN, Texas (Reuters) - President Donald Trump said on Wednesday after touring a plant that assembles Apple Inc (O:AAPL) computers that he was considering whether to exempt the U.S. company from tariffs on imports from China.

"We're looking at that," Trump said in answer to a reporter's question about the tariffs, after touring a plant in Austin, Texas, with Apple Chief Executive Tim Cook that assembles the company's Mac Pro desktop computers.

Cook, who has a strong relationship with Trump, has sought relief for Apple from the U.S. tariffs, which are part of a months-long tit-for-tat trade war between the world's largest economies.

"The problem we have is you have Samsung (KS:005930). It's a great company but it's a competitor of Apple, and it's not fair if, because we have a trade deal with Korea - we made a great trade deal with South Korea - but we have to treat Apple on a somewhat similar basis as we treat Samsung," Trump said.

Apple announced in September it would make its new Mac Pro computers in Austin. The announcement came days after U.S. trade regulators approved 10 out of 15 requests for tariff exemptions filed by Apple amid a broader reprieve on levies on computer parts.

Earlier this month, Apple also asked the Trump administration to waive tariffs on Chinese-made Apple Watches, iPhone components and other consumer products.

Trump has made boosting the U.S. manufacturing sector one of the goals of his presidency, taking to Twitter to pressure U.S. companies into keeping jobs at home.

Earlier on Wednesday, Apple said it had started construction of a new campus in Austin that will employ 5,000 workers, with the capacity to grow to 15,000. It is expected to open in 2022.

Trump considering whether Apple should be exempt from China tariffs
 

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Comments (5)
James Lowe
JLowe Nov 21, 2019 9:30PM ET
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No, we dont need the exemption, we can afford to buy a USD5,000 made in the U.S. iPhone.
eddie glass
eddie glass Nov 20, 2019 7:06PM ET
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Apple is a struggling company and the stock has clearly fallen to all time lows, giving them special benefits to given them an advantage against their competitors is clearly needed.
Patryk Sl
Patryk Sl Nov 20, 2019 7:06PM ET
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check the chart then...
Zambi rambi
Zambi2019 Nov 20, 2019 7:06PM ET
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Lol
Zambi rambi
Zambi2019 Nov 20, 2019 6:48PM ET
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Exception for apple for sure, watch before friday.
Steven Chen
Gamer_LG Nov 20, 2019 6:02PM ET
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not sure if exception for specific company is allowed. that would allow a new division among US companies divides into 2 parties of its own. next up would be companies are taxed at different rate. when left is in office right gets taxed twice and vice versa. lol
William Baker
William Baker Nov 20, 2019 6:02PM ET
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Exempt em all then lol SPX 3150 instantly
Ali Bransford
Ali Bransford Nov 20, 2019 5:57PM ET
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last time he threw Apple and CEO Time Apple under the bus. not expecting anything less this time either haha
 
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