President Donald Trump said Sunday that Apple CEO Tim Cook told him that paying economic tariffs would make it difficult for his company to compete with the likes of Samsung.
He made a “very compelling argument” argument, the president said, referring to comments Cook made during a meeting with Trump. The Trump administration delayed for 3 months tariffs on China for tech goods and footwear, among other items.
The 10% tariffs, which were due to go into effect Sept. 1, would have affected Apple products like iPhones and iPads. Apple shares jumped nearly 5% after Trump announced the delay on tariffs, while other retail stores experienced similar gains.
Trump’s comments Sunday stand in stark contrast to remarks he made on Twitter in July. “Apple will not be given Tariff wavers, or relief, for Mac Pro parts that are made in China. Make them in the USA, no Tariffs!” the president wrote in a July 26 tweet.
The tweet came after Apple asked to have 15 of its components — including power supply units, stainless-steel structural enclosures, circuit boards and completed mice and trackpads — exempted from 25% import tariffs. The tech giant is one of more than 50 companies trying to move production out of China to avoid a prolonged trade conflict between the country and the United States.
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