The leaders of the big USA companies continue to try, backstage, to influence the sometimes somewhat muscular policy of the White House - and it is in this context that Tim Cook and Donald Trump were dining together Friday.
"I thought he made a very compelling argument", Trump said.
Trump could, however, reconsider the tariffs for Apple (via Bloomberg).
Samsung, which more or less competes with Apple in every tech segment, won't be subject to the import tariffs that are due to go into effect from September 1, affecting gadgets like the Apple Watch and Airpods while taxes on Apple's iPhone, iPad and computers are expected to go live by mid-December. Apple is looking to stop the USA administration from placing import tariffs on mobile phones imported from China and argued the tariffs could favour its rival Samsung. It will be hard for Apple to pay tariffs and keep up with the profit margins.
Trump said Cook made a "very compelling argument" about how tough it would be for Apple to pay tariffs if it's competing with "a very good company" that's not. This will permit Huawei to buy supplies from US companies. "I had a very good meeting with Tim Cook", Trump told reporters.
Exactly what Trump means when he says "I'm thinking about it" in the wake of his dinner with Tim Cook isn't clear.
In addition to his comments on Apple, Trump said on Twitter earlier in the day that his administration was "doingvery well with China".
Apple said its Chinese competitors such as ZTE Corporation and Huawei Technologies Co. He explained that the tariffs would, in the long run, make Trump's poster boy of American smartphone innovation buckle under Samsung's advantage. "They will be spending vast sums of money in the U.S. Great!"
United States stock futures rose after Trump's comments.