What President Trump told Apple CEO Tim Cook and 80+ other CEOs in their private meeting Friday, June 28, 2024 2:15 pm 26 Comments
On June 13th, former U.S. President Donald Trump huddled with Apple CEO Tim Cook and at least 80 other CEOs to discuss how taxes are going to be cut and business regulations will be curtailed if he is elected president, CNBC reports citing “people who attended the meeting.”
Brian Schwartz for CNBC:
CNBC spoke with people who attended the Business Roundtable’s quarterly meeting and others familiar with what took place there, all of whom were granted anonymity in order to speak freely about a private gathering.
Trump said… he will cut taxes, including income taxes, and bring back the same economic policies he enacted during his first term, according to people who were in the meeting. Trump said he wants to bring the federal corporate tax rate down from 21% to 20% if he were to become president, according to a person familiar with his remarks.
Trump spoke for about an hour at the meeting, said people in attendance. The audience included JPMorgan Chase CEO Jamie Dimon, Citigroup CEO Jane Fraser, and Bank of America CEO Brian Moynihan, according to spokespeople from their companies. Apple CEO Tim Cook was also there, said two people who were in the room.
“We need a president who is at the top of his game, and let’s face it, this president is not at the top of his game,” Trump said, according to a person who was in the room.
Trump told a meeting full of House Republicans earlier in the day about the idea of imposing an “all tariff policy” that he said would enable the U.S. to get rid of income tax, according to attendees who were granted anonymity to speak about a private meeting.
MacDailyNews Note: In China, the standard corporate tax rate is 25% with lower rates available for the certain sectors/industries meeting specific criteria. More info here. On average, European countries analyzed currently levy a corporate income tax rate of 21.3%. This is slightly below the worldwide average which, measured across 181 jurisdictions, was 23.45% in 2023. More info here.
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