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Apple CEO warns Trump about China tariffs, Samsung competition

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Apple CEO warns Trump about China tariffs, Samsung competition

 

2019-08-18T232448Z_2_LYNXNPEF7H0TY_RTROPTP_4_MEDIA-SUNVALLEY.JPG

FILE PHOTO: Tim Cook, CEO of Apple, attends the annual Allen and Co. Sun Valley media conference in Sun Valley, Idaho, U.S., July 12, 2019. REUTERS/Brendan McDermid/File Photo

 

(Reuters) - President Donald Trump said on Sunday that he had spoken with Apple Inc's Chief Executive Tim Cook about the impact of U.S. tariffs on Chinese imports as well as competition from South Korean company Samsung Electronics Co Ltd.

 

Trump said Cook "made a good case" that tariffs could hurt Apple, given that Samsung's products would not be subject to those same tariffs. Tariffs on an additional $300 billion (247 billion pounds) worth of Chinese goods, including consumer electronics, are scheduled to go into effect in two stages on Sept. 1 and Dec. 15.

 

By contrast, the United States and South Korea struck a trade agreement last September.

 

"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.

 

U.S. stock futures rose upon opening on Sunday 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's MacBook laptops and iPhones would not face the additional tariffs until Dec. 15, but some of the company's other products, including its AirPods, Apple Watch and HomePod, would be subject to the levies on Sept. 1.

 

Apple was not immediately available for comment outside normal business hours.

 

(Reporting by Sarah N. Lynch in Washington and April Joyner in New York; Editing by Lisa Shumaker and Rosalba O'Brien)

 

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-- © Copyright Reuters 2019-08-19

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22 minutes ago, JHolmesJr said:

The number of crimes committed in the name of delivering 'shareholder value' are staggering.

 

Apple should bring back production to USA or Foxconn should open a factory elsewhere.

Apple already tried to bring production back to the USA with a Macbook. That failed. Companies are moving lots of their production gradually out of China to places like Vietnam and Mexico.

As for Foxconn, remember how they promised they were going to have a huge presence in Wisconsin? How's that working out? 

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Potus is still claiming China is paying the tariffs. So accordingly the price of Apple products should not go up. So what is the convincing arguement.?

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A post containing racist slur comments has been removed as well as the replies:

 

11) You will not post slurs, degrading or overly negative comments directed towards Thailand, specific locations, Thai institutions such as the judicial or law enforcement system, Thai culture, Thai people or any other group on the basis of race, nationality, religion, gender or sexual orientation.
 

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1 hour ago, zydeco said:

The dip in the market last week scared Trump. He's doing everything he can to pump them back up beginning with this tariff reversal.  Either China is a nemesis and should be disentangled from the US economy or not. Trump's idiotic playing with tariffs is insincere and reckless. He's going to cave because he is scared the stock markets and his long ETF S&P holding will crash. Things will end up worse than they were before he started any of this. An utter idiot. May need to the Democrats in there to finally get tough on China.

Completely agree- time to disentangle the US and Chinese economies. they can start by telling  Apple to move evereything back to America.  In addition, stop the Chinese by not allowing them to buy US debt and then financing the Chinese military buildup off the balance of trade deficit.  No Chinese students in US Univeresities and then working in the IT trade in which they steal proprietary information.

 

Tariffs are a lose-lose-  and  in the next election- Trump will be the loser .

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1 hour ago, zydeco said:

The dip in the market last week scared Trump. He's doing everything he can to pump them back up beginning with this tariff reversal.  Either China is a nemesis and should be disentangled from the US economy or not. Trump's idiotic playing with tariffs is insincere and reckless. He's going to cave because he is scared the stock markets and his long ETF S&P holding will crash. Things will end up worse than they were before he started any of this. An utter idiot. May need to the Democrats in there to finally get tough on China.


I think we should all accept, all politicians who bang the anti-China drum are a bunch of frauds, they're charlatans. And the media, some of them bang the anti-China drum. They're creating a false picture.

Unfortunately, some people believe that this false picture is actually true.

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19 minutes ago, Russell17au said:

Also tell the American farmers to stop selling their produce to China but instead go and live in poverty on the White House lawn


Yes, the White House has tricked a whole load of people into being against China. All this nonsense that we see in the media. And sadly, some of them people who believe in the fake image, they're voting for the anti-China policies, they want to see less trade between America and China.
Some of them are going to suffer from lower incomes caused by such absurd policies.

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