President Donald Trump stated that he spoke with Apple CEO Tim Cook about tariffs as well as South Korean competitor Samsung.
Trump stated that Cook made a “good case” as to how it would be difficult for Apple to pay tariffs, especially when Samsung does not face this obstacle given how much of its manufacturing takes place in South Korea.
“I thought he made a very compelling argument,” Trump told reporters on Sunday. The president said he had dinner with Cook on Friday evening.
Trump has presently ordered 10 percent tariffs on an additional $300 billion in goods imported from China. All of the tariffs were scheduled to go into effect on September 1st, but Trump has delayed some of the import duties until December 15th given concerns as to how they might impact the holiday shopping season.
“It’s tough for Apple to pay tariffs if it’s competing with a very good company that’s not,” Trump said.
From its end, Apple is expected to release its next-gen iPhone models in December.
Stay tuned for additional details as they become available.
Via CNBC