Trump says Apple's Cook concerned about losing edge to Samsung with tariffs

Trump says Apple's Cook concerned about losing edge to Samsung with tariffs

Apple has been asking for an exception to the tariffs and, if Trump is indeed convinced, it could get that privileged status. Apple XS Max starts at $1,099 and new 10 per cent tariff would mean a roughly $110 hike.

Trump earlier met Cook during a dinner on Friday night, saying that Apple would be spending "vast sums of money in the USA".

US President Donald Trump's escalating trade war with China will make it harder for Apple to compete with Samsung.

The 10% tariff on goods imported from China is one of Trump's bargaining chips in the trade war.

Trump said Cook "made a very compelling argument" over the impact of tariffs on Apple in the context of its competition with Samsung, which doesn't face the same higher costs because its products are made in South Korea. He lives somewhere in the deep Southern part of America, and yes, he has to pump in both sunshine and the Internet.

Tariffs on several product ranges, including AirPods, Apple Watch and HomePod are set to come into force in September with the MacBook and iPhone set to follow later in the year.

"I thought he made a very compelling argument, so I'm thinking about it", Trump was quoted as saying.

Products in the categories exempt from the tariffs are critical to the USA consumer market, especially during the huge Christmas shopping season. Trump acknowledged that it was "tough" for Apple to be paying tariffs on its China-made products when Samsung was not subject to them, but made no indication that exemption for Apple was on the cards.

"We urge the USA government not to impose tariffs on these products", said Cook. During a June letter Apple sent to US Trade Representative Robert Lighthizer, for example, the company argued that the tariffs would bolster competitors not based in the US. I said, "How good a competitor?" Neither would our other major non-U.S. competitors. "Make them in the U.S., no Tariffs!"

Following Trump's statement, Apple's stock surged by 4%.

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