President Trump said Sunday Apple CEO Tim Cook made a “very compelling argument” during a meeting with him on how paying tariffs would make it difficult for the tech giant to compete with the likes of Samsung.
The big picture: Trump announced last week he would delay for 3 months tariffs on China for items including certain tech goods and items of footwear and clothing. The 10% tariffs that were due to go into effect Sept. 1 would have affected Apple products like iPhones and iPads.
Between the lines: Per Axios’ Zachary Basu, the threat of a crashing stock market and higher Christmas shopping prices seemed to spook the Trump administration, despite the president’s false insistence that China pays the cost of tariffs directly into the U.S. Treasury.
Go deeper: The forever trade war