Tim Cook told Trump he loves the new tax cuts, Larry Kudlow says

Key Points
  • Apple CEO Tim Cook was in Washington, D.C., on Wednesday.
  • President Donald Trump said he would meet with Cook in a discussion that would cover trade with China.
  • China is a vital market both for sales of Apple products and for Apple's supply chain.
Kudlow: Tim Cook was most helpful in White House meeting

Apple CEO Tim Cook was in Washington, D.C., on Wednesday, in a meeting the president said would cover trade, presumably including dealings with China.

But the first topic on the agenda was tax cuts, according to Larry Kudlow, director of the National Economic Council.

"He loves the tax cut and tax reform," Kudlow said Thursday. "He said it's great for business. And Apple is going to be building plants, campuses, adding jobs, lots of business investment. That was the first point he made to President Trump."

Apple, the largest U.S. taxpayer, announced in January it would pay the taxes needed to repatriate billions in overseas cash, and would "contribute" $350 billion to the U.S. economy over the next five years, including $30 billion in capital expenditures, $5 billion as part of an innovation fund and a continuation of existing job support of app developers.

While the tech giant has committed to new data center spending, an additional campus and advanced manufacturing, it's not clear if that involves a "plant." The company didn't immediately respond to a request to comment on Kudlow's remarks.

While Cook has long advocated for tax reform, particularly around repatriation, he and the president have not always seen eye to eye on other issues, like immigration, the environment and trade. Cook brought Apple's vice president of environment and government affairs, Lisa Jackson, to a state dinner earlier this week.

China is a vital market both for sales of Apple products and for Apple's supply chain, although early signs of tariffs haven't indicated any direct impacts on Apple products. Kudlow said that he took Cook's suggestions about an upcoming meeting with Chinese officials.

"Tim Cook was most helpful, I really enjoyed the meeting," Kudlow told CNBC's "Squawk on the Street." "I spent a good amount of time with him, and then we came back and we visited the POTUS. He has a lot of experience in China, obviously. He was very helpful in making some suggestions."

Watch Tim Cook in Washington

Apple CEO Tim Cook arrives at the White House