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Tim Cook isn't too worried about a trade war

Tim Cook doesn't think tariffs are going to make your iPhone more expensive.The Apple CEO said Monday he didn'...

Posted: Jun 5, 2018 11:54 AM
Updated: Jun 5, 2018 11:54 AM

Tim Cook doesn't think tariffs are going to make your iPhone more expensive.

The Apple CEO said Monday he didn't expect a full-blown trade war to break out and dismissed the notion that the company's flagship device would be subject to tariffs.

"I don't think the iPhone will get a tariff on it," Cook told CNN's Laurie Segall in an exclusive TV interview.

Cook, who visited President Donald Trump to discuss trade in April, also said he was "very optimistic" that the United States would not escalate its trade fight with other countries, adding that "no one will win from that."

"That's going to be a lose-lose, and when the facts are so clear like that, I believe both parties will see that," he added.

The Apple CEO's remarks come as the United States stokes trade tensions on multiple fronts.

Related: Tim Cook: I don't see politics in my future

Early last week, the Trump administration said it will move forward with $50 billion worth of tariffs on Chinese goods as punishment for intellectual property theft. China has pledged to retaliate with $50 billion in tariffs of its own on items like cars, planes and soybeans.

And on Friday, the administration imposed tariffs on steel and aluminum imports from Canada, Mexico and the European Union.

So far, countries have not threatened duties on Apple's smartphone directly. And since the iPhone is imported to America as a finished product, Apple does not have to worry about US tariffs on many Chinese components, according to Virginia Howard, a supply chain analyst at Gartner.

As a master of supply chain management, Apple can likely absorb any temporary disruptions, Howard said.

"They've got the money, they've got the research and they've got the partners," she said. "I suspect Apple is in a fairly good position to recover."

Related: Tim Cook reveals his tech habits: I use my phone too much

However, an escalating trade war could still affect the tech giant, which considers China a vital market.

Apple competes in China against phone makers like Samsung, Huawei, Xiaomi, Oppo and Vivo. Any effort by the Chinese government to curb iPhone sales amid a trade fight could cause the company to lose momentum.

"There are a lot of manufacturers that are head-on-head competition in that market," Howard said.

Minnesota Coronavirus Cases

Data is updated nightly.

Cases: 485655

Reported Deaths: 6558
CountyCasesDeaths
Hennepin1007641586
Ramsey43106801
Dakota36297390
Anoka33293385
Washington22078256
Stearns18734201
St. Louis14805262
Scott13290107
Wright12526115
Olmsted1178988
Sherburne872872
Carver772640
Clay691587
Rice670491
Blue Earth594735
Kandiyohi579574
Crow Wing520681
Chisago499045
Otter Tail482170
Benton446490
Winona418349
Mower404731
Douglas392668
Nobles387047
Goodhue385768
Polk343162
McLeod339349
Beltrami337951
Morrison324547
Itasca313046
Lyon313044
Becker311342
Isanti306154
Steele300411
Carlton300149
Pine282016
Freeborn280723
Nicollet258641
Todd248030
Brown245037
Le Sueur235320
Mille Lacs227447
Cass220024
Waseca208717
Meeker207434
Martin189528
Wabasha18653
Roseau180217
Hubbard160640
Houston157314
Dodge15224
Renville149640
Redwood147027
Fillmore13728
Chippewa136335
Cottonwood134820
Pennington134416
Wadena130920
Faribault123017
Aitkin118833
Sibley117310
Watonwan11738
Rock115714
Kanabec107519
Pipestone101424
Yellow Medicine97617
Murray9448
Jackson93510
Swift87918
Pope8045
Marshall77815
Stevens7418
Lake74018
Clearwater71914
Lac qui Parle68416
Wilkin67110
Koochiching61811
Big Stone5163
Lincoln5062
Grant4918
Norman4788
Unassigned46768
Mahnomen4417
Kittson40921
Red Lake3625
Traverse3055
Lake of the Woods2191
Cook1180

Iowa Coronavirus Cases

Data is updated nightly.

Cases: 362827

Reported Deaths: 5440
CountyCasesDeaths
Polk58260551
Linn20670313
Scott18318210
Black Hawk16258292
Woodbury14979211
Johnson1384874
Dubuque13562194
Dallas1138690
Pottawattamie10791143
Story1024945
Warren556674
Clinton543784
Cerro Gordo533782
Webster519587
Marshall497272
Sioux494869
Buena Vista474537
Des Moines458861
Muscatine452291
Wapello4345108
Jasper417766
Plymouth395378
Lee375452
Marion359169
Jones294154
Henry293337
Carroll286249
Bremer280854
Crawford275135
Boone259730
Washington254347
Benton253854
Mahaska224746
Jackson221638
Dickinson217840
Tama213765
Kossuth208555
Clay193625
Hamilton192142
Delaware189140
Winneshiek189127
Buchanan185729
Fayette185235
Page183319
Hardin181439
Wright179931
Harrison179469
Cedar178523
Clayton168154
Butler167231
Mills163020
Floyd162741
Cherokee154836
Madison154718
Poweshiek154330
Hancock147130
Allamakee146747
Lyon145941
Iowa145023
Appanoose139247
Grundy139230
Jefferson138734
Winnebago138631
Cass134751
Calhoun133811
Mitchell130940
Louisa128241
Union126631
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Sac124618
Emmet121740
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Franklin118319
Humboldt117925
Guthrie116628
Palo Alto105221
Montgomery104136
Howard102921
Clarke100420
Unassigned9900
Keokuk98229
Monroe93328
Adair92128
Ida91432
Pocahontas85419
Davis83123
Monona81627
Greene77510
Lucas74021
Osceola70615
Worth6997
Taylor66612
Fremont5909
Decatur5829
Van Buren56118
Ringgold52320
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Adams3274
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