Apple CEO Tim Cook has successfully avoided additional tariffs for the tech giant. In a meeting with U.S. President Donald Trump, Cook presented multi-billion-dollar projects planned for the United States. The executive also came bearing golden gifts for the politician… There’s a golden rule in business: uncertainty kills deals. Trump’s tariffs — and his unpredictability on the matter — have had exactly that negative effect. It has since become common to see top executives from major corporations working harder than ever to win the U.S. president’s favor.
These charm offensives can sometimes appear unusual. Cook is the latest example. In uncertain times, even the CEO of Apple has to court Trump to gain a measure of stability. A lavish gift made of glass and gold was meant to help. “It’s engraved for President Trump. It’s one of a kind. The base comes from Utah and is made of 24-karat gold,” Cook explained in the Oval Office, visibly nervous and with a trembling hand, while Trump smiled in the background.
Trump also announced during the meeting that Apple had agreed to invest another $100 billion in U.S. facilities, on top of the $500 billion commitment made back in February. The funds will be used over the next four years to expand component production in the country, particularly in certain states, with the expectation of creating 20,000 new jobs.
Trump Unveils a New “Tariff Club” “Apple is coming back to the United States,” the president declared energetically — even though Apple products will continue to be manufactured overseas. Most electronics supply chains moved to Asia decades ago, and analysts estimate that producing an iPhone in the U.S. would cost around $3,500. Still, billions in investments and personal gifts seemed to be enough to satisfy Trump for now.
Alongside his “deal with Apple,” the Republican leader also announced a new tariff policy: all imported computer chips will be subject to a 100% tariff in the future. Trump did not specify when the new duties would take effect, but he promised to exempt companies willing to build on U.S. soil. He added that Apple had successfully “earned” such an exemption. The Tim Cook Turnaround Scenes from the White House sparked widespread criticism.
“I can’t believe one of the richest CEOs in the world went to the White House yesterday to hand the president an actual piece of gold in exchange for a tariff exemption — and did it live on television,” said MSNBC reporter Sam Stein. Even Cook himself had recently calculated that Trump’s tariffs would increase Apple’s total costs by $900 million. However, after Wednesday’s “economic pardon,” the Apple CEO shook Trump’s hand and thanked him for being “a great supporter of American innovation and manufacturing.” He concluded, “We are a proud American company.”
