 "During Trump’s administration, Cook frequently lobbied the former president on behalf of Apple, dealing with issues like trade tariffs and regulations. However, Apple’s engagement with the White House hasn’t slowed under President Biden. Image Credit: Reuters")
Former US President Donald Trump has stirred headlines once again by revealing that Apple’s CEO, Tim Cook, allegedly reached out to him about the European Union’s hefty fines against the tech giant. Speaking on the PBD Podcast, released on October 17, 2024, Trump claimed that Cook voiced concerns over the billions of dollars in fines Apple has been hit with by European regulators.
Trump mentioned that Cook’s frustration centred around two EU fines: one totalling $15 billion, stemming from a longstanding tax dispute in Ireland, and another $2 billion fine, although the details of the latter remain unclear. Notably, Apple has not had to immediately part with this money, as the funds for the original $14 billion tax fine were placed in escrow back in 2018.
The timeline of Trump’s conversation with Cook is somewhat hazy. Trump said, “He called me two, maybe three hours ago,” but did not specify when the call actually took place. According to Trump, Cook remarked that Europe seems to view companies like Apple as a source of revenue, saying that they are using these fines “to run their enterprise.”
Trump signals plans to protect US companies
During the podcast, Trump expressed his intention to prevent similar actions by the EU in the future if he returns to office. While acknowledging the scale of the fines, he told Cook, “That’s a lot… But Tim, I need to get elected first. I won’t let them take advantage of our companies if I’m back in.”
Interestingly, despite his strong words, there is no indication that Trump addressed Apple’s tax dispute with the EU during his previous presidency. The €13 billion ($14 billion) fine, initially ordered in 2016, went into escrow in 2018, with Apple continuing to appeal the decision. Trump had not publicly commented on the matter at the time.
Impact Shorts
More ShortsA complicated history between Apple & Trump
This alleged call adds another chapter to the complicated relationship between Trump and Cook. During Trump’s administration, Cook frequently lobbied the former president on behalf of Apple, dealing with issues like trade tariffs and regulations. The interactions even included the now-famous incident when Trump mistakenly referred to the Apple CEO as “Tim Apple.”
Although Cook’s lobbying efforts were focused on Trump at the time, Apple’s engagement with the White House hasn’t slowed under President Biden. Reports indicate that Apple executives have visited the White House 87 times during Biden’s term, demonstrating the company’s ongoing efforts to maintain influence at the highest levels of government.
While Trump’s latest comments suggest he might take steps to shield American businesses from similar fines, it remains to be seen how much influence he can wield, especially given that these disputes fall within the jurisdiction of European regulators.