Apple Products Escaped Fallout of Trade War: Cook
Apple CEO Tim Cook has said that his company's products have managed to escape the fallout of President Donald Trump's trade war against China and he thinks it would remain that way, the CBS News reported.
"The Chinese have not targeted Apple at all, and I didn't anticipate that happening, to be honest," Cook was quoted as saying in an interview with CBS News late on Tuesday.
Analysts have forecast that the move is likely to raise the cost of iPhones by as much as 14 per cent; that hasn't happened so far, Cook said.
The admission by Cook came while Apple was hosting developers, designers and engineers at its annual Worldwide Developers Conference (WWDC) in San Jose, California this week.
Last week, China slapped duties as high as 25 per cent on more than 5,000 American products worth $60 billion.
Beijing's move came in retaliation against President Donald Trump's decision to hike duties on $200 billion of Chinese imports, according to the CNBC.
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