What did Trump tell Tim Cook when he reached a tax deal with China?

(Dan Tri) - US President Donald Trump revealed that one of the first people he spoke to after reaching a tariff agreement with China was Apple CEO Tim Cook.

"I spoke to Tim Cook this morning and I think he's going to increase his number. $500 billion, he's going to build a lot of factories in the United States for Apple and we look forward to that," Trump said, hinting that CEO Tim Cook would increase investment to boost Apple's production in the United States.

Earlier in February, Apple announced that it would invest $500 billion to expand many of its operations in the US, including establishing an artificial intelligence server factory in Houston.

On May 12, both the US and China agreed to suspend most major tariffs for 90 days to give the two sides more time to negotiate.

Tim Cook was on Trump's advisory board during his first term and the Apple CEO was also a supporter of Trump during his second term campaign (Photo: Fortune).

According to the joint statement, the US will temporarily lower tariffs on Chinese goods from 145% to 30%, while China will cut import tariffs on US goods from 125% to 10%.

Any easing of the trade war between the US and China would benefit Apple, as the majority of its products are manufactured in China. China is also Apple’s third-largest market, after the US and Europe.

Apple shares jumped 6% after the US and China reached a deal on tariffs.

However, even if the US and China temporarily suspend the application of new import tariffs, iPhones, iPads, and MacBooks manufactured in China will still be subject to a 30% tax when imported into the US.

Apple products manufactured in other countries such as Vietnam and India will be subject to a 10% tax when imported into the US market.

Earlier this month, speaking at a shareholder meeting, Apple CEO Tim Cook said the company would move manufacturing of products imported into the US from China to Vietnam and India to avoid the risk of high tariffs. However, Tim Cook also admitted that "the situation is very unpredictable."

Tim Cook is one of the closest tech CEOs, having served on Trump's advisory board during his first term. Tim Cook was a supporter of Donald Trump's campaign during his second term.

Apple itself also received many "special benefits" during Mr. Trump's first term.

The Trump administration has been pushing Apple to move manufacturing to the US, including iPhones. However, economists say this is unlikely due to high labor costs and a lack of US suppliers of components.

Source: https://dantri.com.vn/cong-nghe/ong-trump-noi-gi-voi-tim-cook-khi-dat-duoc-thoa-thuan-thue-voi-trung-quoc-20250514092126903.htm