U.S. Markets open in 8 hrs 5 mins

Trump told Apple CEO iPhones will be spared from China tariffs: NYT

FILE PHOTO: A attendee uses a new iPhone X during a presentation for the media in Beijing, China October 31, 2017. REUTERS/Thomas Peter/File Photo

(Reuters) - President Donald Trump told Apple Inc Chief Executive Tim Cook that the U.S. government would not levy tariffs on iPhones assembled in China, the New York Times reported on Monday, citing a source familiar with the negotiations.

The newspaper reported that Cook traveled to the White House last month to warn Trump of the potentially adverse effects of Trump's trade policies on Apple in China but did not specify precisely when Trump made the commitment to Cook. Apple and the White House were not immediately available for comment.

A list of tariffs proposed in April largely excluded consumer electronics. But last week, Trump unveiled a revised list that included several categories of chips, raising fears that tariffs could impact the U.S. technology sector.


(Reporting by Stephen Nellis in San Francisco; Editing by Lisa Shumaker)