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When pushing, Apple (AAPL) will create the best place for its shareholders and bottom line — even if it attracts the anger of President Trump who holds the fee tax rate.
"Apple is a very smart strategist. Remember, their purpose is not to promote the economy. Their purpose is to maximize profits. So they will use any strategy to achieve this clearly."
Ross served as U.S. Secretary of Commerce from 2017 to 2021 and is the author of “Risks and Rewards: Success in Business and Life.” During his tenure, Ross helped implement Trump's first tariff on China.
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"I think (Apple CEO Tim Cook) will make the product where it makes the most sense. You'll notice that he started out assembled out of India," Ross said. He added that the move wouldn't help the U.S., but it could help in the future if the local industry grows and starts sourcing U.S. semiconductors instead of competitors.
Apple - long relied on Chinese factories to build lucrative iPhones - has been trapped in the crosshairs of the trade war, which ultimately seemed to be on a notch.
After a high-level meeting in Switzerland over the weekend, the United States will reduce the "reciprocal" tax rate from goods from China from 125% to 10%. What Trump said to him is that China's role in the fentanyl trade will remain unchanged by 20% tariffs.
China will reduce its retaliatory tariffs on U.S. goods from 125% to 10%.
Read more: What Trump’s tariffs mean to the economy and your wallet
In April, the government issued a rule that exempted reciprocal tariffs from smartphones, computers, semiconductors and other electronic devices, although the 20% tariff on fentanyl still applies to Chinese goods.
The tariff probation triggered market rally, with the S&P 500 (^GSPC) rising 4% since Monday and now trading in the full-year trade room.
Apple takes advantage of uncertainty in trade policy to diversify its supply chains and throws bones at Trump. It pledged $500 billion in the U.S. in February, mainly linked to new manufacturing plants in Houston to extract servers that support Apple intelligence.
Lack of commitment has to do with making consumer hardware in the United States. Cook said in a 2015 interview that the skill gap in the United States makes it difficult to produce Apple products in the United States.