Apple CEO Tim Cook met with more than 20 other chief executives, including top executives from Rio Tinto and Corning Inc., to discuss potential trade disruptions once US President-elect Donald Trump takes office in January. The meeting, which took place in China, aimed to address the impact of tariffs on Chinese-made goods, particularly iPhones.
China is a crucial manufacturing center for Apple, with an estimated 80% of the world’s iPhones produced in one plant. Any trade conflict between the US and China could have severe consequences for the company. In the previous Trump presidency, import tariffs were imposed on Chinese-made goods, including iPhone components, leading to changes in plans.
However, Trump is threatening to impose even more tariffs on Chinese-made goods, which could affect Apple products. The meeting with Li Qiang, China’s Premier, aimed to discuss supply chain and trade issues. Despite the high-level discussion, it seemed scripted and little progress was made. Cook stated that Apple values China highly and relies heavily on its partners, highlighting the risks of a potential trade disruption.
Source: https://9to5mac.com/2024/11/25/tim-cook-and-20-other-ceos-met-chinas-premier-to-discuss-potential-issues-with-trump-plans