EXCLUSIVE: Cook says Apple wouldn't harm US

Business 2/13/2018, 7:14 PM
EXCLUSIVE: Cook says Apple wouldn't harm US

During the annual shareholders meeting in Cupertino, California, Apple's CEO Tim Cook stressed that the company would not do anything that can harm the United States, a source close to the matter told Breaking the News on Tuesday. Commenting on the recent tax reform in the US, Cook said: "We would not have supported something we thought was bad for America."

Apple's head stressed that the company was planning to pay $38 billion more in taxes, confirming the previously announced sum, adding: "We could have left it where it was and not paid. We said we want to pay and for wanting to pay, we want to use the residual profits to invest in this country."

Reflecting on the previous tax regulation in the US, Cook highlighted that none of the American businesses "brought money back to the US because of the 40% tax rate." He noted that the majority of companies will continue to make most of their money outside of the US but will now inject them back into the country.

Apple shares gained 0.90% during intraday trade on Wall Street at 7:25 pm CET.

Breaking the News / VK



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