On today’s “Squawk on the Street” on CNBC, White House Senior Counselor for trade and manufacturing Peter Navarro reignited criticism of Apple’s reliance on China, pointing out CEO Tim Cook for what he characterized as years of postponed attempts to relocate iPhone manufacturing. Here’s the complete quote.
### ‘The longest running soap opera in Silicon Valley’
In a broad discussion covering tariffs, the FED, and Apple, CNBC’s Jim Cramer and Navarro conversed about Tim Cook’s recent difficulties in satisfying the Trump administration.
When Cramer remarked that “no matter where Apple goes, we find that they have to be taxed high,” and inquired, “What is sufficient for you?” Navarro replied:
> “Returning to the first Trump term, Tim Cook has consistently requested more time to transfer his factories out of China. I mean, it’s the longest running soap opera in Silicon Valley. And my issue with Tim Cook is he never takes the actions needed to actually accomplish that. And with all these new advanced manufacturing methods and the way things are evolving with AI and such, it’s unimaginable to me that Tim Cook couldn’t make his iPhones somewhere else in the world and in this country.”
Today’s interview occurred right after the conclusion of Trump’s 90-day tariff hiatus, which was succeeded by a new wave of tariffs targeting nations like Japan and South Korea. Apple’s shares mirrored the broader market’s decline, ending the day down 1.69%.
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