Trump says he talked to Apple CEO Tim Cook after China tariff rollback

Trump says he talked to Apple CEO Tim Cook after China tariff rollback


Apple CEO Tim Cook, center, watches during the inauguration ceremonies for President Donald Trump, right, and Vice President JD Vance, left, in the rotunda of the U.S. Capitol in Washington, Jan. 20, 2025.

Shawn Thew | Afp | Getty Images

President Donald Trump said Monday that he talked to Apple CEO Tim Cook after the U.S. and China agreed to suspend most tariffs for 90 days.

Wall Street and Apple investors cheered the pause on Chinese tariffs. Apple stock was up 6% in trading on Monday, versus 3% for the Nasdaq.

“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.

Still, it’s not clear how much Monday’s announcement immediately helped Apple.

In April, most of Apple’s most important products, such as smartphones and computers, received exemptions on some of the highest 145% tariffs, but there are still 30% tariffs on Chinese imports even after Sunday’s deal. Apple still faces 10% tariffs in some of its secondary production locations, such as India and Vietnam.

The Trump administration wants Apple to bring device production, including iPhone manufacturing, to the United States, a move that many experts believe would be unlikely and expensive.

Earlier this month, Cook told investors about the company’s tariff strategy on an earnings call. He said that Apple is currently sourcing American-bound products from production locations in Vietnam and India, but didn’t want to speculate beyond June, calling the situation “difficult to predict.”

An Apple spokesperson declined to comment.



Source

OpenAI wraps .6 billion share sale at 0 billion valuation
Technology

OpenAI wraps $6.6 billion share sale at $500 billion valuation

Sam Altman, chief executive officer of OpenAI Inc., during a media tour of the Stargate AI data center in Abilene, Texas, US, on Tuesday, Sept. 23, 2025. Kyle Grillot | Bloomberg | Getty Images OpenAI has finalized a secondary share sale totaling $6.6 billion, allowing current and former employees to sell stock at a record […]

Read More
Why current AI models won’t make scientific breakthroughs, according to a top tech exec
Technology

Why current AI models won’t make scientific breakthroughs, according to a top tech exec

Co-founder and Chief Science Officer at Hugging Face, Thomas Wolf, speaks at the opening ceremony of the Web Summit, in Lisbon, Portugal, November 11, 2024.  Pedro Nunes | Reuters Current artificial intelligence models from labs like OpenAI are unlikely to lead to major scientific breakthroughs, a tech co-founder said, pouring cold water on some of […]

Read More
NASA employees on Artemis missions with SpaceX, Blue Origin to work through shutdown
Technology

NASA employees on Artemis missions with SpaceX, Blue Origin to work through shutdown

U.S. President-elect Donald Trump greets Elon Musk as he arrives to attend a viewing of the launch of the sixth test flight of the SpaceX Starship rocket on November 19, 2024 in Brownsville, Texas. Brandon Bell | Getty Images News | Getty Images NASA is requiring employees involved in Artemis missions with contractors SpaceX and […]

Read More