Apple CEO Tim Cook Attends China Summit amid Supply Chain Woes

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3 weeks ago

Apple CEO Tim Cook joined a meeting with Chinese Premier Li Qiang and executives from global companies to discuss trade and supply chain matters amid economic uncertainty in the communist country.

Bloomberg reports that on Monday, Apple Chief Executive Officer Tim Cook participated in a high-level summit with Chinese Premier Li Qiang and more than 20 corporate leaders from around the world. The meeting, which took place during Cook’s third visit to China of the year, focused on addressing potential trade disruptions and economic uncertainties faced by global companies operating in the country.

According to state media reports, the summit brought together top executives from a diverse range of industries, including mining giant Rio Tinto, specialty glass manufacturer Corning, and Thai conglomerate Charoen Pokphand Group. Chinese corporate leaders, such as the heads of tech company Lenovo and the Industrial and Commercial Bank of China (ICBC), were also in attendance.

Breitbart News has reported extensively on Apple’s ties to China, including a secret $275 billion deal Tim Cook signed with the Chinese government to avoid a crackdown on its operations.

The meeting, which lasted over an hour and included about two dozen executives, marked the first high-level meeting between foreign corporations and a senior Beijing official since Donald Trump won a second four-year term. Companies worldwide are bracing for the president-elect’s threat to hike tariffs on Chinese goods. The gathering of business leaders, which took place before a supply chain expo in Beijing starting Tuesday.

According to people familiar with the matter, who asked not to be identified discussing a private event, the meeting felt pretty scripted. Premier Li Qiang quoted Adam Smith’s view that the propensity to truck, barter, and exchange was inherent in human nature. Li also told the executives to send any feedback to him, saying he would take it seriously, although he did not mention Trump or tariffs.

In a separate report by the official Xinhua News Agency, Li said Beijing is against decoupling and urged efforts to maintain the stability of the global supply chain. He also vowed to continue developing the Chinese economy.

Disruptions to trade are a source of concern, especially for Apple, which makes the majority of its iPhones through Foxconn in China and counts the country as its biggest market after the US. During brief remarks carried by a social media account linked to state broadcaster China Central Television, Cook emphasized the importance of the Chinese supply chain, stating, “I value them very highly. We could not do what we do without them.”

Other notable attendees at the meeting included Thai billionaire Dhanin Chearavanont, Sumitomo Electric Industries Chairman Matsumoto Masayoshi, Robin Zeng of Contemporary Amperex Technology, and Li Dongsheng, the chairman of TCL Technology Group.