President Trump took a swing Thursday at Apple CEO Tim Cook over his company’s manufacturing in India, emphasizing that he wants the iPhone maker to expand production in the United States.
“I had a little problem with Tim Cook yesterday. I said to him, 'Tim you’re my friend, I treated you very good. You’re coming in with $500 billion, but now you’re building all over India. I don’t want you building in India,’” Trump said.
“I said, 'Tim, look, we’ve treated you really good. We’ve put up with all the plants that you built in China for years. Now, you gotta build us. We’re not interested in you building in India. India can take care of themselves. They’re doing very well. We want you to build here,’” he added. “And they’re going to be upping their production in the United States.”
Trump revealed Monday that he spoke to the Apple CEO after he announced an agreement with China to significantly reduce tariffs for 90 days. The president said Cook, who previously promised to invest $500 billion in the U.S. over the next four years, now plans to open more plants stateside.
Apple was particularly vulnerable to Trump’s trade war with China. The iPhone maker manufactures the vast majority of its products in China, although it has increasingly diversified its supply chain to include India and Vietnam.
All three countries were initially subject to hefty import taxes under Trump’s “reciprocal” tariff regime, threatening to upend the company’s business model and drive up prices. China, India and Vietnam faced tariff rates of 34 percent, 26 percent and 46 percent, respectively.
As Beijing and Washington went tit-for-tat on tariffs, rates increased until they settled at a 145 percent tariff on Chinese imports in the U.S. and a 125 percent tariff on American imports in China.
Trump ultimately put most “reciprocal” tariffs on hold as the market showed signs of faltering, leaving in place only the China tariffs and a baseline 10 percent tariff. He also later exempted electronics, like Apple’s smartphones, from the tariffs on Chinese goods.
On Monday, the president announced that the U.S. and China had reached an agreement to lower tariff rates to 30 percent and 10 percent, respectively, while the two sides attempt to reach a more lasting trade deal.
The trade agreement has the tech sector breathing a sigh of relief after months of escalating tensions that have challenged the industry. However, experts warned that tariffs remain relatively high and the threat of sector-specific tariffs continues to loom over tech.
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