Apple's CEO Tim Cook successfully advocated for a tariff reprieve amidst President Trump's trade policies, which aimed to increase import taxes. This intervention sparked a wider appeal from multiple industries, including agriculture and retail, seeking similar concessions. Executives from companies like Home Depot, Target, and Walmart expressed concerns about potential price hikes due to these tariffs. The discussion with President Trump has been characterized as productive, highlighting the ongoing tension between trade policies and consumer prices in the U.S.
When President Trump's steep tariffs threatened to send the price of iPhones soaring, Apple's chief executive, Tim Cook, called the White House and soon secured a reprieve for his company and the broader electronics industry.
Top lobbying groups for the agriculture, construction, manufacturing, retail and technology industries have pleaded with the White House in recent days to relax more of its tariffs.
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