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WASHINGTON, Aug. 19 – President Donald Trump said yesterday he discussed with Tim Cook, Apple's chief executive, the impact of US tariffs on Chinese imports as well as competition from the South Korean company Samsung Electronics Co Ltd.
Trump said Cook "has made a good case" that the rates could harm Apple, as Samsung's products would not be subject to these same rates. Tariffs on Chinese products, including consumer electronic products, worth an additional US $ 300 billion (RMB 1.25 trillion) are expected to come into effect in two stages on September 1 and December 15th.
In contrast, the United States and South Korea concluded a trade agreement last September.
"I thought he had made a very compelling argument, so I think about it," Trump told Cook, speaking to reporters at a New Jersey airport.
US equity futures rose at the opening yesterday 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 laptops and MacBook iPhones will not be subject to additional rates until December 15, but some of the company's other products, including its AirPods, Apple Watch and HomePod, will be subject to taxes as of September 1.
Apple was not immediately available to comment outside normal office hours. – Reuters
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