Apple CEO Bags on Trump Tariffs, Calls them a Consumer Tax

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Tim Cook called out Donald Trump’s tariffs on imports from China during Apple’s third fiscal quarter earnings conference call on Tuesday saying they amount to a tax on consumers.

Tim Cook angry about Donal Trump import tariffs

Tim Cook isn’t a fan of Donald Trump’s import tariffs

The White House is imposing tariffs on steel and aluminum imports, along with a US$50 billion collection of goods from China that aren’t directly impacting Apple. A fourth category worth an additional $200 billion, however, will impact products Apple sells.

When asked about the impact of the tariffs during the conference all, Cook said,

Our view on tariffs is that they show up as a tax on the consumer and wind up resulting in lower economic growth, and sometimes bring about significant risk and unintended consequences.

He added Apple is evaluating the tariff and will share its thoughts with the Trump administration during the open comment period.

“There’s an inescapability of mutuality between the United States and China,” Cook said. “Each country can only prosper if the other does.”

The tariffs Trump imposed have led to higher costs for consumers, as well as some materials shortages for U.S. companies. Mr. Cook implied that’ll happen for tech products, too, as additional tariffs are put in place.

Cook’s comments came during Apple’s third fiscal quarter earnings conference call with investors. The company reported revenue at $53.3 billion, up 17% year over year with 41.3 million iPhones, 11.5 million iPads, and 3.7 million Macs sold.

Despite the likelihood the tariffs will drive up the price for consumer electronics, including those from Apple, Cook was optimistic that might not happen. “We’re hoping calm heads prevail,” he said.

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Ned
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Ned

The opposite side of the same coin: Trump/Cook. Outsourcing manufacturing, reducing recyclable plastics and increasing use of imported metals with no thought to consequences. Tim’s “inescapable mutuality” is the effect felt by parents who can’t afford a divorce because of financial ruin. The same parents rarely worry as much about the effect on their children.

palmac
Member
palmac

A few things wrong with your analogies: Apple _has_ to outsource manufacturing. There is no place in the USA that can assemble computers of this volume. Why do you think they’re trying so hard to get Foxconn to start a factory here? Recyclable plastics in Apple products are so insignificant as to be hardly worth noting. Look at an iPhone and iPad, there’s a lot of recyclable metal there compared to other phones and tablets. Macs/iPads/iPhones don’t end up in landfills like other computers. Apple takes them apart and recycles as much as they can while disposing of the minor… Read more »

palmac
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palmac

How do you insert paragraphs here? Nothing seems to work and I end up with a solid block of dense unreadable text.