Apple CEO Tim Cook made 'very compelling argument' against tariffs, Trump says

After Trump's comments, USA stock futures rose. It seems, however, that he might be willing to yield some ground if those decisions actually put big U.S. companies at a bad disadvantage.

According to CNBC, Trump said that Cook made a "good case" that it's hard for Apple to compete with Samsung considering that the former isn't subject to tariffs as most of its manufacturing is in South Korea.

Tariffs on an additional $300 billion worth of Chinese goods, including consumer electronics, are scheduled to go into effect in two stages on September 1st and December 15th.

I had a very good meeting with Tim Cook. The latter batch includes iPhones due to launch next month.

During a Friday-night dinner with Donald Trump, Apple CEO Tim Cook very almost convinced the US President that the import taxes he's planning on iPhone and other products would benefit Samsung, its chief competitor. Cook's argument may be "compelling", but if Apple gains exemption, it would set a precedent that would likely see Trump inundated with requests from other technology firms.

Later, the president chose to delay the import taxes on phones, laptops, and some other goods, though Apple accessories like AirPods will still get hit next month. In June, The Wall Street Journal reported Apple planned to shift production of the MacBook Pro laptop to China.

It looks like Apple is gunning for some sweet tariff exemption from the USA for its manufacturing. In short, Apple and its customers will end up paying more because of those tariffs which would make Samsung's smartphones more tempting and more affordable.

"I thought he made a very compelling argument, so I'm thinking about it", Trump said of Cook, speaking with reporters at a New Jersey airport.

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