President Donald Trump says Apple CEO Tim Cook “made a for jog compelling argument” that tariffs on China will abate Apple’s ability to compete with Samsung. The pair had dinner on Friday evening on the president’s golf club in Bedminster, Original Jersey, and Trump described the dialog to journalists from publications including Bloomberg, CNBC, and Fox News on the vogue motivate to Washington.
“I had a for jog precise assembly with Tim Cook,” Trump talked about. “I beget numerous recognize for Tim Cook, and Tim used to be talking to me about tariffs. And one in the whole lot, and he made a true case, is that Samsung is their quantity-one competitor, and Samsung is now not paying tariffs because they’re based entirely in South Korea.”
“And it’s sophisticated for Apple to pay tariffs if they’re competing with a for jog precise company that’s now not. I talked about, ‘How precise a competitor?’ He talked about they are a for jog precise competitor. So Samsung is now not paying tariffs because they’re based entirely in a utterly different dilemma, largely South Korea but they’re based entirely in South Korea. And I believed he made a for jog compelling argument, so I’m fascinated with it.”
Most of Apple’s merchandise are assembled in China and is also topic to an additional 10 p.c import tax later this year. Right here is due to the enter set apart on September 1st for merchandise adore the Apple Gaze and AirPods, though the iPhone, iPad, and MacBook lineup won’t be hit till December fifteenth after a extend to accommodate the vacation taking a look season.
Samsung has a extra numerous offer chain, with great of its manufacturing positioned in South Korea and Vietnam. As such, the company won’t be hit as arduous by the Trump administration’s ongoing exchange war with China. Apple is imagined to be taking a beget a examine inviting extra of its manufacturing somewhere else.
Trump gave advance discover of the dinner with Cook on Twitter Friday evening, announcing Apple “will be spending sizable sums of cash in the US. Huge!” though he doesn’t appear to beget talked about any particulars of additional US funding in his comments to journalists.