<\/p>\n
Washington, May 15 (TNS):<\/strong> Apple Chief Executive Officer Tim Cook said he criticized Donald Trump\u2019s approach to trade with China in a recent White House meeting while urging the president to address the legal status of immigrants known as Dreamers.<\/p>\n In an interview, Cook said his message to Trump focused on the importance of trade and how cooperation between two countries can boost the economy more than nations acting alone.<\/p>\n Cook met with Trump in the Oval Office in late April amid a brewing trade war between the US and China. The Trump administration instituted 25 percent tariffs on at least $50 billion worth of products from China, sparking retaliation. In the interview on \u201cThe David Rubenstein Show: Peer-to-Peer Conversations,\u201d Cook acknowledged that previous trade policies were flawed but said Trump\u2019s move is also problematic.<\/p>\n \u201cIt\u2019s true, undoubtedly true, that not everyone has been advantaged from that \u2014 in either country and we\u2019ve got to work on that,\u201d Cook said. \u201cBut I felt that tariffs were not the right approach there, and I showed him some more analytical kinds of things to demonstrate why.\u201d<\/p>\n Although Apple produces most of its products in China and lists the US and China among its three largest markets, the Cupertino, California-based technology company hasn\u2019t been seriously affected by trade tensions so far. While products like the iPhone and iPad are designed in the US, they are made using China-based factories run by the likes of Hon Hai Precision Industry Co and Pegatron Corp.<\/p>\n Apple generated $35 billion in revenue from the Americas in the most recent holiday quarter, while sales in China reached almost $18 billion. China has become one of Apple\u2019s most important markets since Cook became CEO in 2011, and the company now has 41 retail stores in the region, the most outside of the US.<\/p>\n Closer to home, Cook said he asked the president to find a resolution for undocumented immigrants who were brought to the US as children. Lawmakers have so far failed to negotiate a legislative replacement for the Obama-era Deferred Action for Childhood Arrivals program that spared Dreamers from deportation. \u201cWe\u2019re only one ruling away from a catastrophic case there,\u201d Cook said.<\/p>\n Apple has been more supportive of a Trump-backed law that slashed corporate taxes. It\u2019s especially beneficial for Apple and other large US technology companies that have hundreds of billions of dollars held overseas and are now bringing that money back. Cook said Apple will inject $350 billion into the US over the next five years, through tax payments, hiring, a new campus and $30 billion in capital expenditure.<\/p>\n \u201cWe\u2019re also going to buy some of our stock because we view our stock as a good value,\u201d Cook told Rubenstein in the interview. \u201cIt\u2019s good for the economy as well because if people sell stock they pay taxes on their gains.\u201d<\/p>\n Cook also touched on Apple\u2019s fast-growing services business, saying the Apple Music streaming service now has more than 50 million users on either paid subscriptions or free trials. Last month, the company passed 40 million subscribers, with 8 million trying the service out through free trials. Apple still lags Spotify Technology SA, which said this month that it has 75 million paying customers.<\/p>\n Cook indicated that Apple will make a stronger push into streaming video and original TV shows and movies but declined to provide specifics. \u201cWe are very interested in the content business. We will be playing in a way that is consistent with our brand,\u201d Cook said. \u201cWe\u2019re not ready to give any details on it yet. But it\u2019s clearly an area of interest.\u201d<\/p>\n Courtesy: (Indian Express)<\/p>\n","protected":false},"excerpt":{"rendered":" Washington, May 15 (TNS): Apple Chief Executive Officer Tim Cook said he criticized Donald Trump\u2019s approach to trade with China in a recent White House meeting while urging the president to address the legal status of immigrants known as Dreamers. In an interview, Cook said his message to Trump focused on the importance of […]<\/p>\n","protected":false},"author":1,"featured_media":65513,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-65511","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world"],"_links":{"self":[{"href":"https:\/\/tns.world\/index.php?rest_route=\/wp\/v2\/posts\/65511","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tns.world\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tns.world\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tns.world\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tns.world\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=65511"}],"version-history":[{"count":2,"href":"https:\/\/tns.world\/index.php?rest_route=\/wp\/v2\/posts\/65511\/revisions"}],"predecessor-version":[{"id":65517,"href":"https:\/\/tns.world\/index.php?rest_route=\/wp\/v2\/posts\/65511\/revisions\/65517"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tns.world\/index.php?rest_route=\/wp\/v2\/media\/65513"}],"wp:attachment":[{"href":"https:\/\/tns.world\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=65511"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tns.world\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=65511"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tns.world\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=65511"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}