The on-going trade war between China and the US is not about to die down anytime soon, that much is known. Although there had been talks about the two countries making peace, the conversations just fell through.
However, with the economy slowing down in China and the US showing signs of recession, Apple Inc’s CEO, Tim Cook, had a word with the presidential runner, Donald Trump, about the tariffs with China, the trade war and other topics that were related.
The tariffs on Chinese products and imports have caused a massive problem for many, and because of which many big names and brands had to shift their manufacturing processes elsewhere. However, Tim Cook had a different perspective to offer.
Cook talked to Trump about the impact these tariffs on the Chinese goods had on the Chinese imports as well as on the competition, which he was pointing at the South Korean company, SamsungElectronics Co Ltd.
After the discussion with Tim Cook, Trump was noted saying that Cook had made a “good case.” According to Cook, the South Korean company’s goods will not be subjected to the same competition, while more Chinese goods, including consumer electronics, are set to receive new tariffs in two sets, one on 1st of September and the next by 15th of December.
Tim Cook made a “compelling” statement, as per Donald Trump. He also says that he is thinking about what Tim told him and what he should do next. However, in contrast, the U.S and South Korea had agreed on a trade agreement only last September.
The share market rose after Trump’s comments. Although Apple’s MacBooks and iPhones will not face tariffs, other products such as Airbooks and Airpods may be subject to tariffs by 1st September. Apple is yet to comment on this.