Tim Cook's Oval Office Event, Apple Receives Tariff Exemptions, Apple’s Additional $100B U.S. Commitment
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Tim Cook's Oval Office Event
Earlier in the week, President Trump appeared on CNBC to talk trade and tariffs. One of the market-moving news items was Trump announcing new tariffs on semiconductors would be announced within the week. These tariffs – Section 232 tariffs – would cover consumer gadgets currently exempt from IEEPA (International Emergency Economic Powers Act) tariffs. The unknown found with Section 232 tariffs was one of a few major headwinds weighing on Apple for the past few months.
Yesterday morning, news began to circulate that Trump would be making an announcement in the Oval Office regarding Apple and a new U.S. investment commitment. Shortly thereafter, there were reports that Tim Cook would be attending the event. Cook’s presence would mark the first time he has appeared with publicly with Trump during his second presidential term.
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