Aug 19, 2019 - Economy

Trump: Apple's Tim Cook made a good case that trade war helps Samsung

President Donald Trump speaks alongside Apple CEO Tim Cook (L) during the first meeting of the American Workforce Policy Advisory Board

Apple CEO Tim Cook and President Trump at the White House in March. Photo: Saul Loeb/AFP/Getty Images

President Trump said Sunday Apple CEO Tim Cook made a "very compelling argument" during a meeting with him on how paying tariffs would make it difficult for the tech giant to compete with the likes of Samsung.

The big picture: Trump announced last week he would delay for 3 months tariffs on some Chinese imports, including certain tech goods, footwear and clothing. The 10% tariffs that were due to go into effect Sept. 1 would have affected iPhones and iPads.

Between the lines: The threat of a crashing stock market and higher Christmas shopping prices seemed to spook the Trump administration, despite the president's false insistence that China pays the cost of tariffs directly into the U.S. Treasury.

Go deeper: The forever trade war

Go deeper