Apple CEO Tim Cook: 'The world needs the US and China to win'

Apple CEO Tim Cook.
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Following a record quarter for Apple earnings, revenue, and iPhone shipments, CEO Tim Cook spoke to CNBC about President Trump's plans to impose tariffs or border taxes on goods crossing into the U.S.

"We need more jobs," Cook told CNBC's Josh Lipton. "Everyone needs to do their fair share. We can do that without trade wars."

Last Thursday, Trump spokesman Sean Spicer floated the idea of a 20% border tax on goods crossing into the U.S. from Mexico, and Trump has said several times that he's considering a tariff or other restrictions on goods from China, where Apple manufactures most of its products.

"The border tax would hit the middle-class consumer," Cook told CNBC. "The U.S. and China need each other. The world needs the U.S. and China to win."

--Reporting by Josh Lipton