On Tariffs, It’s Good to Be “Tim Apple”

Tariffs are advertised in the name of helping American workers, but what do you know? They turn out to favor the powerful and politically connected. That’s the main message of President Trump’s decision to exempt smartphones and assorted electronic goods from his most onerous tariffs.

On Tariffs, It’s Good to Be Tim Cook

Related:

Tim Cook gifted Donald Trump a $6,000 Mac Pro after he lowered tariffs on parts Apple needed from China

At the time Apple and Cook were applying a charm offensive to persuade then-President Trump to remove tariffs on certain components that came from China. Cook asked Trump if he could meet him in person to make Apple’s case, a gesture the former president found “impressive,” he told Bloomberg. Trump was particularly pleased at the time that Cook reached out, especially considering his acrimonious relationship with other tech CEOs. 

[2019] Apple dodges iPhone tariff after Trump confirms trade deal agreement with China

Although the trade deal affects billions of dollars worth of goods, it’s a particular victory for Apple CEO Tim Cook, who has personally worked to keep communication open with the Trump administration. Cook’s charm offensive culminated last month when he gave Trump a tour of a Mac Pro assembly plant in Texas. That computer is assembled in the United States, and Apple was granted tariff waivers for several of its components.

Intel shares fall 20% on plans to cut 15,000 jobs

Intel on Thursday revealed drastic plans to slash its employee headcount and capital spending in an attempt to put its business back on a stable financial footing, as it suffered the latest setback in its slow-moving turnaround plans.

Intel shares fall 20% on plans to cut 15,000 jobs

Related:

US CHIPS Act Funding for Intel

On March 20, 2024, the U.S. Department of Commerce and Intel Corporation announced a preliminary memorandum of terms under which Intel will receive approximately $8.5 billion in direct funding under the CHIPS and Science Act. Funding will help advance Intel’s critical semiconductor manufacturing and research and development projects at sites in Arizona, New Mexico, Ohio and Oregon – U.S. locations where the company produces some of the world’s most advanced chips and semiconductor packaging technologies.

Meanwhile, in China:

China’s ‘basic self-sufficiency’ in chip-making tools could come this summer, veteran says

US tightens rules on AI chip sales to China in blow to Nvidia

US tightens rules on AI chip sales to China in blow to Nvidia

Nvidia chief executive Jensen Huang told the Financial Times earlier this year that the 2022 controls had left the Silicon Valley company with its “hands tied behind our back” by barring sales of its most advanced chips to China. He has said further restrictions could seriously harm US chipmakers by eating into their ability to finance investment.

Related:

Updated US export controls could cover ASML’s workhorse machine, dealing China’s chip ambitions a heavy blow

China ups export curbs on key EV battery component, safeguarding graphite amid US tensions

Explained: How Americans In Chinese Tech Firms Might Have To Choose Between US Citizenship And Job

Under the latest US technology export rules, US citizens working in Chinese firms might face a tough choice — quit their jobs or risk losing US citizenship.

Explained: How Americans In Chinese Tech Firms Might Have To Choose Between US Citizenship And Job

H/T: Simply put, Biden forced all Americans working in China to choose between being fired or losing their American citizenship from Der Friedensstifter/The Peacemaker

Sounds like a violation of the Fourteenth Amendment’s Citizenship Clause.