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Apple CEO Warns Trump About China Tariffs

19.08.2019
Read the original article on :voanews.com
Importing from China is a lucrative multi-trillion dollar operation. It is the source of tremendous profit and wealth in the US, because consumer commodities imported from China’s low wage economy are often sold at the retail level more than ten times their factory price.

Production does not take place in the USA. The producers have given up production. The US trade deficit with China is instrumental in fuelling the profit driven consumer economy which relies on Made in China consumer goods.

U.S. President Donald Trump said on Sunday that he has spoken with Apple Inc’s Chief Executive Tim Cook about the impact of U.S. tariffs on Chinese imports as well as competition from South Korean company Samsung Electronics Co Ltd.

Trump said Cook “made a good case” that tariffs could hurt Apple given that Samsung’s products would not be subject to those same tariffs. Tariffs on an additional $300 billion worth of Chinese goods, including consumer electronics, are scheduled to go into effect in two stages on Sept. 1 and Dec. 15.

“I thought he made a very compelling argument, so I’m thinking about it,” Trump said. Trump made the comments while speaking with reporters on the Tarmac at the Morristown, New Jersey, airport.

Apple was not immediately available for comment outside normal business hours.

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