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The company's president, Donald Trump, said Apple CEO Tim Cook had "put forward a very convincing argument" that tariffs on China would hinder Apple's competitiveness with Samsung. The two men had dinner on Friday night at the President's Golf Club in Bedminster, New Jersey, and Trump described the conversation to reporters of publications like Bloomberg, CNBC and Fox News on the way back to Washington.
"I had a very good meeting with Tim Cook," Trump m said. "I have a lot of respect for Tim Cook, and Tim was telling me about rates. And one of the things, and he has argued, is that Samsung is their main competitor, and Samsung does not pay any tariffs because they are based in South Korea. "
"And it's hard for Apple to pay rates if they're competing with a very good company that does not. I said, "What a good competitor?" He said he was a very good competitor. Thus, Samsung does not pay customs duties because they are based in another place, mainly in South Korea, but based in South Korea. And I thought that he had presented a very convincing argument, so I think about it. "
Most Apple products are assembled in China and will be subject to an additional 10% import tax later this year. This is expected to come into effect on September 1 for products such as the Apple Watch and AirPods, although the range of iPhone, iPad and MacBook will not be affected until December 15, after a delayed delay for the period of holidays.
Samsung's supply chain is more diversified, with most of its manufacturing sites located in South Korea and Vietnam. As such, the company will not be as hard hit by the ongoing trade war between the Trump administration and China. It is said that Apple is planning to further move its manufacturing elsewhere.
Trump announced in advance the dinner with Cook on Twitter Friday night, Apple announced that "would spend huge amounts of money in the United States. Awesome! But he does not seem to have mentioned more details of additional US investments in his comments to reporters.
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