Business plead for tariff reprieve after Trump spares iPhones, NYT says

When President Trump’s tariffs threatened the price of iPhones, Apple’s (AAPL) CEO Tim Cook called the White House and secured reprieve from his company and the broader electronics industry, Tony Romm of The New York Times reports. Top aides to Trump insisted they had not strayed from their promise to apply import taxes across the economy with minimal exceptions, but the carve-out caught the attention of businesses worldwide. Top lobbying groups have pleaded with the White House, arguing some products they must import because they are too expensive or impractical to produce in the U.S. Recently, executives from retailers including Home Depot (HD), Target (TGT), and Walmart (WMT) became the latest to raise their concerns with Trump.