Apple's Tim Cook calls for calm heads on China, US trade

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Apple Inc’s Chief Executive Tim Cook on Saturday called for “calm heads” and more open trade, amid rising fears of a trade war between China and the US.

Trade tension between China and the US flared this week when President Donald Trump unveiled plans on Thursday to slap heavy tariffs up to 60 billion US dollars on Chinese goods.

China’s Ministry of Commerce on Friday urged the US to “pause on the brink of a precipice”, saying it was not afraid to engage in a trade war.

“I’m cognizant that in both the US and China, there have been cases where everyone hasn’t benefited, where the benefit hasn’t been balanced,” Cook said.

Speaking at the annual China Development Forum in Beijing, Cook said he hoped “calm heads” would prevail.

The sparring has cast a spotlight on hardware makers such as Apple, which assemble the majority of their products in China for export to other countries. Electrical goods and tech are the largest US import item from China.

Despite challenges, the company has sought to expand its services in China, its third-largest market, where roughly 1.8 million developers use its platform.

“My belief is that businesses should be engaged with governments in countries where they are doing business, whether they agree or disagree,” Cook said.

Cook has come to China several times in the past year, and was among executives who met Chinese President Xi Jinping last October.

“My belief is that one plus one equals three. The pie gets larger, working together,” Cook said.

Others attending the three-day forum include the chief executives of IBM Group , Google Inc and Qualcomm Inc.

Cook, who this year co-chaired the event, also attended last year when he called for China to increase trade and continue opening itself up to the world.

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Source(s): Reuters