- Apple CEO Tim Cook has slammed Donald Trump’s trade wars with the world.
- He said the US president’s policy will be “lose-lose,” adding that eschewing protectionism is key to economic prosperity.
- The Trump administration is yet to agree on common ground with China over trade, while last week it slapped tariffs on steel and aluminium imports from the EU, Canada, and Mexico.
Apple CEO Tim Cook has criticised Donald Trump’s decision to wage trade wars with the world – but has reassured his customers that the iPhone price will not be impacted by higher tariffs.
Speaking on the day of Apple’s Worldwide Developer’s Conference on Monday, Cook told CNN that getting into trading disputes with other countries is never a good idea.
In an interview with tech correspondent Laurie Segall, he said: “No one will win from that. It will be a lose-lose. And I think that when the facts are so clear like that, I think that both parties will see that and be able to work things out.”
Cook met with Trump last month in an attempt to get the president to back off his trade war with China. Apple and other tech firms rely on China to build their products.
But with talks between the US and China so far yet to yield a breakthrough, the threat of America imposing tariffs on Chinese goods looms large. It follows the Trump administration last week slapping tariffs of 10% on aluminium and 25% on steel from the EU, Canada and Mexico.
Cook expanded on his trade comments in a separate interview with National Public Radio, in which he made clear his view that eschewing protectionism is key to economic prosperity.
“Countries that have a significant level of openness … are the [countries] that thrive over time,” the Apple boss said. “Trade brings people closer together … and I think that’s true about countries as well. It helps a set of broader issues when there’s trade going on.”
He does not believe, however, that Trump’s policies will impact Apple customers. Cook told CNN that he was “optimistic” about the future, adding: “I don’t think that iPhone will get a tariff on it.”
NOW WATCH: Tech Insider videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.