Tech Industry

Trump says Apple CEO Tim Cook expects economy to see sharp rise after coronavirus

The president reportedly says he talked with Cook about the state of the economy.

President Donald Trump signed H.R.266, the Paycheck Protection Program and Health Care Enhancement Act, in the Oval Office on Friday.
Anna Moneymaker/The New York Times/POOL/Getty Images

President Donald Trump reportedly said he talked with Apple CEO Tim Cook on Friday about the state of the economy amid the coronavirus pandemic. Trump said Cook expects the economy to see a v-shaped recovery, where a sharp drop is followed by a sharp rise, when the outbreak is over, according to a report Friday from CNBC

The president's comments came during a signing ceremony in the Oval Office on Friday for a second chunk of funding for the Paycheck Protection Program, which is designed to help small businesses keep workers on their payrolls. More than 26 million Americans have lost their jobs amid the coronavirus outbreak.

Apple didn't immediately respond to a request for comment. 

COVID-19, the respiratory disease caused by the coronavirus, has rapidly spread across the globe. The World Health Organization on March 11 declared the outbreak a pandemic. There are now over 2.7 million confirmed cases globally, with more than 883,000 in the US as of Friday.

Apple has made several moves to help address the coronavirus pandemic, including designing face shields for medical works and directing a portion of iPhone SE Product Red sales to relief efforts. Apple is also working with Google to develop coronavirus tracking tools for iOS and Android devices. 

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