London (CNN Industrial)President Donald Trump says that Apple CEO Tim Cook dinner has made a “very compelling argument” that unusual tariffs would damage the US tech huge’s ability to compete with its prime rival.
urged reporters Sunday that Cook dinner had argued for the length of a gathering that imposing taxes on Apple products
would design it complicated for the firm to compete with South Korea’s Samsung. Trump stated Friday on Twitter that he would possibly perhaps well presumably presumably be having dinner with Cook dinner that evening.
“Tim became talking to me about tariffs and … he made a correct case … that Samsung is their no 1 competitor and Samsung is no longer any longer paying tariffs,” Trump urged reporters on Sunday. “I believed he made a certainly compelling argument so I am severe about it.”
Trump had announced plans to impose taxes on one other $300 billion of Chinese imports on September 1, however the administration has since delayed taxes on tech products
at the side of smartphones, laptops and video sport consoles till December 15. Tech companies warned that the tariffs would lengthen costs for shoppers and damage their ability to design a revenue. Tariffs on assorted goods will serene earn raise out next month.
Many Apple products, at the side of the iPhone, are manufactured in China by suppliers at the side of Foxconn. Samsung makes some of its smartphones in China, however the firm also operates plant life in worldwide locations similar to Vietnam and India.
Shares in Apple obtained 1.5% in premarket procuring and selling Monday. Apple (AAPL)
didn’t abruptly answer to a build a question to for comment. A spokesperson for Samsung (SSNLF)
stated the firm had no comment.
Apple has been hit this year by weaker seek data from for its smartphones
. The pattern has been seriously pronounced in China, the attach economic growth has slowed amid the ongoing alternate battle with the US.
Trump has previously compelled Apple to transfer more of its operations to the US.
“My focal level is the US. I prefer to rep those companies to advance attend attend,” Trump stated in January. “I want Apple to design their iPhones and all of one of the best things that they design within the US.”