Apple has committed to investing an additional $100 billion in its U.S. facilities, in response to an announcement by President Trump threatening to impose a large import tax on chips coming into the country.
Earlier this year, the tech giant pledged $500 billion to boost its domestic manufacturing. This new $100 billion initiative focuses on strengthening Apple’s connections with its main domestic suppliers as Trump pushes Apple and other tech companies to relocate production to the U.S.
Speaking at an Oval Office event celebrating Apple’s investment, President Trump said, “This is a significant step toward the ultimate goal of ensuring that iPhones sold in the United States of America also are made in America. Today’s announcement is one of the largest commitments in what has become among the greatest investment booms in our nation’s history.”
He also stated that he would impose 100% tariffs on semiconductors and chips manufactured abroad.
“But the good news for companies like Apple is, if you’re building in the United States, or have committed to build, without question, committed to build in the United States, there will be no charge,” the President concluded.
Speaking alongside Trump at the White House event, Apple CEO Tim Cook commented, “This includes new and expanded work with 10 companies across America. They produce components — semiconductor chips included — that are used in Apple products sold all over the world, and we’re grateful to the President for his support.”
“President Trump shared some kind words about that work,” Cook said in reference to Apple’s previous $500 billion investment. “But he also asked us to think about what more we could commit to doing, and Mr. President we took that challenge very seriously.”
Following Apple’s announcement, the company’s stock rose 6%, signaling investors’ relief that Cook is offering an olive branch to the Trump administration.
By CEO NA Editorial Staff
