President Trump had dinner with Apple CEO Tim Cook on Friday and they talked about tariffs and Samsung.
Trump said Cook made a “good case” that it would be difficult for Apple to pay tariffs, when Samsung does not face the same hurdle because much of its manufacturing is in South Korea.
“I thought he made a very compelling argument,” Trump told reporters Sunday. The president said he was having dinner with Apple’s CEO on Friday. “It’s tough for Apple to pay tariffs if it’s competing with a very good company that’s not,” Trump said.
Trump had originally ordered 10% tariffs on an additional $300 billion in goods imported from China and that was to take effect on September 1, 2019. Trump has delayed the tariffs until mid-December.
It’s pretty clear that Apple CEO Tim Cook helped convince the President to delay those tariffs. It’s no coincidence that Apple’s stock shot up 4% on Tuesday after the President made the decision to delay the tariffs.
Apple is expected to release its new version of the iPhone in September.
I think the delay on the 10% tariffs is to give Apple time to relocate its manufacturing away from China.
We did have some large dark pool prints in Apple as we do every day. Nothing unusual was detected coming off the dark pool for Apple stock on Friday, August 16, 2019.