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Home / Business / Tim Cook warns Trump that China tariffs will hurt Apple and help Samsung

Tim Cook warns Trump that China tariffs will hurt Apple and help Samsung



  US POLITICS TECHNOLOGY

US President Donald Trump and Apple CEO Tim Cook in 2017.


Nicholas Kamm / AFP / Getty Images

US President Donald Trump's escalating trade war with China will make it more difficult for Apple to compete with Samsung. That was the basis for Apple CEO Tim Cook's announcement to Trump when the two had dinner on Friday, according to Trump . Apple will be hit by new tariffs which will come into force on September 1 because the products are largely made in China, while Samsung would avoid such a hit thanks to production that is mostly in Vietnam, India, Indonesia and other countries. [19659005] "I had a very good meeting with Tim Cook," Trump told reporters Sunday. "Tim talked to me about tariffs. And one of the things, and he did a good thing, is that Samsung is their biggest competitor, and Samsung doesn't pay tariffs because they're based in South Korea."

He continued: "It is tough for Apple to pay tariffs if they are competing with a very good company that is not. I said: & # 39; How good is a competitor? & # 39; He said they are a So Samsung doesn't pay tariffs because they're based elsewhere, mostly South Korea, but they're based in South Korea, and I thought he came up with a very compelling argument, so I'm thinking

A new round of Chinese import duties is due to enter into force on September 1, raising electronics prices by 10%. This, according to Reuters, may include Apple's popular AirPods and Apple Watch . Apple's most lucrative products, such as MacBooks, iPads and especially iPhones, would have been spared, but these could be included in a new set of tariffs introduced on December 15.

Trump, meanwhile, has called for Apple to build its devices in the United States . Apple does most of its research and development in the United States, but assembles most of its devices overseas. This seemed to be his preoccupation before meeting with Cook on Friday, as he tweeted "Dinner tonight with Apple's Tim Cook. They will spend huge sums in the United States Great!" [19659006] The United States signed a new trade agreement with South Korea last year, where electronics remained duty-free. Samsung has manufacturing facilities all over the world, in countries such as Vietnam, Indonesia, Brazil and China. However, it has scaled down China's dependence and shut down two phone manufacturing facilities in 2018. Only one remains in the country.

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