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President Trump says he talked to Apple CEO Tim Cook after reaching China deal

MacDailyNews

May 12

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President Trump speaks with Tim Cook at an American Workforce Policy Advisory Board meeting in March 2019. (photo: Al Drago/Bloomberg News)

On Monday, President Donald Trump announced he had spoken with Apple CEO Tim Cook following the U.S.-China agreement to suspend most tariffs for 90 days. The tariff pause was well-received by Wall Street and Apple investors, with Apple’s stock rising 6% in Monday trading, outperforming the Nasdaq’s 3% gain.

Kif Leswing for CNBC:
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“I spoke to Tim Cook this morning, and he’s going to, I think, even up his numbers,” Trump said in the Oval Office. ”$500 billion, he’s going to be building a lot of plants in the United States for Apple. And we look forward to that.”
Apple previously said in February it would spend $500 billion to expand many of its operations in the U.S., including assembling AI servers in Houston.
Any cooling of a U.S.-China trade war is expected to boost Apple, which does the majority of its device production in the country, and also counts the region as its third-largest by sales.

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MacDailyNews Take: As we wrote on May 2nd: “To cut through the, uh… noise: China is already faltering, repeatedly injecting economic subsidies into its moribund economy. China desperately needs access to the American consumer (as does every other country who’d like to make real money). This April jobs report further strengthens the U.S. hand in tariff negotiations with China (and every other country), accelerating the timeline to arrive at reciprocal trade deals which is very good news for companies like Apple with a huge manufacturing base in China.”

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