The Information has recently released a report saying how Apple CEO Tim Cook signed a ‘secret deal’ with China that’s worth around $275 billion.
In the report, it was alleged that Tim Cook signed a 5-year agreement with China’s government when he visited the country in 2016. It was believed that Apple will be helping China grow its technological capabilities and economy, and that the move was agreed upon by Apple executives who were becoming wary of the bad publicity and Apple’s rocky relationship with the country.
Internal documents reveal that Cook lobbied with government officials over App Store, Apple Pay and iCloud services and made a mutual agreement with the National Development and Reform Commission, with regulatory exemptions made for several concessions.
Cook’s negotiating skills came to fruition, and as a result regulatory actions versus Apple were removed. The Cupertino-based company gained market access in exchange for worker training, business deals and investments.