 Technology |
Technology |
|
|
Trump, Apple relationship devolves into tariff threats |
President Trump's relationship with Apple has devolved in recent weeks as the president has ramped up pressure on the iPhone maker over its overseas manufacturing. |
© Evan Vucci/Associated Press |
Trump on Friday threatened to put a 25 percent tariff on Apple products if the company failed to move more of its manufacturing back to the U.S., just weeks after publicly scolding Apple CEO Tim Cook over his firm's reliance on Indian manufacturing. This marks a sharp contrast from the more cordial relationship that Cook managed to maintain with Trump in his first term, when he scored a key tariff exemption. "It puts Apple with their back against the wall a little because India was going to be the go-to to navigate the China tariffs," Wedbush Securities analyst Dan Ives said, adding, "This is putting Apple in an almost impossible spot." Trump and Cook have long had a good rapport — a bright spot compared to the president's often tense relationships with other tech leaders, like Amazon founder Jeff Bezos and Meta CEO Mark Zuckerberg. This relationship paid dividends for Apple in Trump's first term, when the president exempted electronics, including the company's smartphones, from his China tariffs at the time. However, Cook seems to have run up against the limitations of this relationship in Trump's second term, in which the president appears more committed to his tariff push. "Undoubtedly this is a really difficult environment for Apple to be operating in," said Leo Gebbie, an industry analyst with CSS Insight. "I think the move to now start the threat of tariffs once again is quite symptomatic of the unpredictable nature of this U.S. administration," he continued Read more in a full report at TheHill.com this weekend. |
Welcome to The Hill's Technology newsletter, we're Miranda Nazzaro and Julia Shapero — tracking the latest moves from Capitol Hill to Silicon Valley. |
|
|
How policy will be impacting the tech sector now and in the future: |
|
|
SAN FRANCISCO (AP) — Lashing out at Apple’s plans to make most of its U.S. iPhones in India, President Donald Trump on Friday threatened to slap a 25% tariff on the popular device unless the tech giant starts building the product in its home country — a move that still seems unlikely to happen any time soon, if ever. Apple for decades has been building most of its devices in China, where it has invested tens of billions … |
| |
|
President Trump on Friday expanded his tariff threat against Apple to include Samsung and other smartphone companies as he pushes for the device-makers to move manufacturing to the U.S. Asked in the Oval Office whether he has the power to tariff a single company, Trump said "it would be more" than just Apple. "It would be also Samsung and anybody that makes that product, otherwise it wouldn’t be fair," Trump told reporters … |
| |
|
A liberal advocacy organization blasted President Trump's administration's "threats" amid a reported probe into the group by the Federal Trade Commission (FTC). The FTC opened the probe into Media Matters on Wednesday over whether it improperly coordinated with advertisers, multiple outlets reported Thursday. In a letter, which was seen by multiple news outlets, the FTC demanded communications between the progressive … |
| |
|
News we've flagged from the intersection of tech and other topics: |
- DOGE expanding use of Elon Musk's AI chatbot in federal government (Reuters)
- Justice Department investigates Google agreement with chatbot maker (Bloomberg)
|
|
|
Fourth CFTC commisioner to depart |
Welcome to Crypto Corner, a daily feature focused on digital currency and its outlook in Washington. |
A fourth commissioner at the Commodity Futures Trading Commission (CFTC) plans to leave the agency that is expected to take on a key role in regulating the digital assets market. Commissioner Kristin Johnson is the latest to announce her intention to depart the CFTC, joining all three of her colleagues. "It has been an honor and privilege to serve as a Commissioner at the Commodity Futures Trading Commission (CFTC)," she said in a statement Wednesday. "Having completed my full term, I have notified the President of my intent to step down as a CFTC Commissioner later this year." Her announcement comes shortly after acting CFTC Chair Caroline Pham and Commissioners Summer Mersinger and Christy Goldsmith Romero also revealed they would be leaving the agency. Mersinger leaves the CFTC on May 30, while Romero departs on May 31. Pham has said she will remain on until President Trump's nominee to chair the commission, Brian Quintenz, is confirmed. This means the entirety of the CFTC's leadership will turn over, as Congress considers legislation to hand the agency more regulatory power over the crypto industry. |
|
|
Two key stories on The Hill right now: |
|
|
Senate Republicans say they're going to rewrite the 1,116-page bill the House narrowly passed Thursday to enact President Trump's agenda. Speaker Mike … Read more |
| President Trump revived his trade war Friday, threatening to slap hefty tariffs on the European Union and to hit Apple with tariffs if it doesn't manufacture … Read more |
|
|
You're all caught up. See you Tuesday! |
400 N Capitol Street NW Suite 650, Washington, DC 20001 |
Copyright © 1998 - 2025 Nexstar Media Inc. | All Rights Reserved. |
|
|
|
If you believe this has been sent to you in error, please safely unsubscribe.
No comments:
Post a Comment