Varney: Tim Cook the Apple of Trump's eye
President Trump and Apple CEO Tim Cook need each other for the sake of China trade negotiations, said Stuart Varney
FOX Business’ Stuart Varney argued that President Trump and Apple CEO Tim Cook need each other to negotiate with China in his latest "My Take."
Worth over $1 trillion, Apple is the world’s most valuable and most important technology company in the world, Varney noted. Tim Cook is the most powerful executive in the world, meaning his meeting with Trump could be described as a “summit,” he added.
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“Yes the president wants to see Apple’s new factory in Texas and Tim Cook is eager to show it off, but the meeting is really about China and China trade,” Varney said.
Apple does not want to get caught up in a trade war with China, referring to the massive source of revenue the country provides it, Varney argued. The company is, however, already in the middle of it, he said.
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Cook wants further exemptions from tariffs as the CEO shows the Texas factory to Trump, demonstrating that the company is doing what Trump wants, according to Varney. Trump will respond by asking Cook to build an iPhone factory in the United States, Varney argued.
“It’s a delicate dance. Especially because trade is a very delicate issue these days,” he said.
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This comes as the U.S. Senate passed a pro-Hong Kong democracy measure — which China does not like — and more tariffs are threatened to hit on Dec. 15 — which China really does not like — Varney added.
“Of all big tech chiefs, only Tim Cook has developed a close relationship with the president. They need each other because together, they are negotiating with China,” he concluded.