Apple CEO Tim Cook helped talk the President into delaying tariffs
When President Donald Trump’s announced ginormous tariffs on China, Apple CEO Tim Cook went to work behind the scenes, according to The Washington Post.
The article — quoting two unnamed people familiar with the matter — says Cook spoke to Commerce Secretary Howard Lutnick about the potential impact of the tariffs on iPhone prices, as well as other senior officials in the White House. The Post says the CEO refrained from publicly criticizing the president or his policies on national television.
By the end of the week, the Trump administration agreed to exempt from import duties electronic products that Apple produces in China, an action that also granted a reprieve to other large U.S. firms, including HP and Dell. Trump did so despite the recommendations of senior White House aide Peter Navarro, who had wanted the taxes to remain in place, according to The Post.
One estimate suggested that Trump’s 145% tariffs on Chinese imports would have led Apple to charge more than $2,000 for iPhone Pros, according to Wedbush Securities. However, the benefit may only be temporary. Trump has only promised to pause “reciprocal” tariffs for 90 days.
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