President Donald Trump’s months-long delicate dance with Apple Inc. and its chief executive, Tim Cook, reached a breakthrough of sorts late Wednesday, when the president said he is “looking” at exempting the iPhone maker from a coming round of China tariffs.
The trip to Texas, which took place while an impeachment hearing of Trump unfolded in Washington, highlighted Apple’s push to seek further relief from U.S. tariffs on imports from China and Trump’s efforts to convince U.S. companies to add more manufacturing jobs domestically. Approximately 20% of Apple’s annual revenue comes from China.
When asked if a trade deal with China would be reached by the end of the year, Trump on Wednesday said, “China would much rather make a trade deal than I would... I don’t think they’re stepping up to the level that I want.”
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