“Tim Cook doesn’t think tariffs are going to make your iPhone more expensive. The Apple CEO said Monday he didn’t expect a full-blown trade war to break out and dismissed the notion that the company’s flagship device would be subject to tariffs,” Julia Horowitz reports for CNN Tech. “‘I don’t think the iPhone will get a tariff on it,’ Cook told CNN’s Laurie Segall in an exclusive TV interview.”
“Cook, who visited President Donald Trump to discuss trade in April, also said he was ‘very optimistic’ that the United States would not escalate its trade fight with other countries, adding that ‘no one will win from that,'” Horowitz reports. “The Apple CEO’s remarks come as the United States stokes trade tensions on multiple fronts.”
“Early last week, the Trump administration said it will move forward with $50 billion worth of tariffs on Chinese goods as punishment for intellectual property theft. China has pledged to retaliate with $50 billion in tariffs of its own on items like cars, planes and soybeans,” Horowitz reports. “So far, countries have not threatened duties on Apple’s smartphone directly. And since the iPhone is imported to America as a finished product, Apple does not have to worry about US tariffs on many Chinese components, according to Virginia Howard, a supply chain analyst at Gartner.”
Read more in the full article here.
MacDailyNews Take: This is the “Tempest in a Teapot” decade.
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