Apple announces $100 billion in new US investment after Tim Cook meets Trump
(image: @WhiteHouse)US President Donald Trump’s invitation to Apple CEO Tim Cook to the Oval Office on Wednesday, resulted in the tech giant announcing $100 billion in new US investment, bringing its total investment to $600 billion to boost domestic production to protect its popular iPhones from Trump’s steep tariffs.“Today, we’re proud to increase our investments across the United States to $600 billion over four years and launch our new American Manufacturing Program,” said Tim Cook, Apple’s CEO. “This includes new and expanded work with 10 companies across America. They produce components that are used in Apple products sold all over the world, and we’re grateful to the President for his support.”Earlier this year, construction began in Houston on the new factory supporting production of advanced Apple servers, and in July, the facility produced its first test unit. The 2,50,000-square-foot server manufacturing facility is slated to begin mass production in 2026.100% tariff on semiconductorsTrump also announced plans to impose a 100% tariff on all imported semiconductors and chips in order to strengthen domestic production. “A 100% tariff (will be imposed) on all chips and semiconductors coming into the US. But if you’ve made a commitment to build (in the US), or if you’re in the process of building (in the US), as many are, there is no tariff,” the president said during a meeting in the Oval Office with Apple CEO Tim Cook. Companies such as Apple, Nvidia, and Taiwan Semiconductor Manufacturing Company (TSMC) have pledged significant investments in the US that might benefit from the exemption if Trump follows through on his tariff threat.The measure aims to push international tech companies to establish or expand manufacturing operations in the United States, and thereby reduce reliance on overseas supply chains. Trump noted that companies like Apple could benefit from the exemption because of their increasing investment in US-based production.President Trump said, “The good news for companies like Apple is if you’re building in the US or have committed to build, without question, committed to build in the US, there will be no charge.”The 100% tariff will apply to all imported semiconductors and chips, affecting major suppliers in Taiwan, South Korea, and Singapore. (With inputs from syndicated feed)
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| (image: @WhiteHouse) |
US President Donald Trump’s invitation to Apple CEO Tim Cook to the Oval Office on Wednesday, resulted in the tech giant announcing $100 billion in new US investment, bringing its total investment to $600 billion to boost domestic production to protect its popular iPhones from Trump’s steep tariffs.
“Today, we’re proud to increase our investments across the United States to $600 billion over four years and launch our new American Manufacturing Program,” said Tim Cook, Apple’s CEO.
“This includes new and expanded work with 10 companies across America. They produce components that are used in Apple products sold all over the world, and we’re grateful to the President for his support.”
Earlier this year, construction began in Houston on the new factory supporting production of advanced Apple servers, and in July, the facility produced its first test unit. The 2,50,000-square-foot server manufacturing facility is slated to begin mass production in 2026.
100% tariff on semiconductors
Trump also announced plans to impose a 100% tariff on all imported semiconductors and chips in order to strengthen domestic production.
“A 100% tariff (will be imposed) on all chips and semiconductors coming into the US. But if you’ve made a commitment to build (in the US), or if you’re in the process of building (in the US), as many are, there is no tariff,” the president said during a meeting in the Oval Office with Apple CEO Tim Cook.
Companies such as Apple, Nvidia, and Taiwan Semiconductor Manufacturing Company (TSMC) have pledged significant investments in the US that might benefit from the exemption if Trump follows through on his tariff threat.
The measure aims to push international tech companies to establish or expand manufacturing operations in the United States, and thereby reduce reliance on overseas supply chains. Trump noted that companies like Apple could benefit from the exemption because of their increasing investment in US-based production.
President Trump said, “The good news for companies like Apple is if you’re building in the US or have committed to build, without question, committed to build in the US, there will be no charge.”
The 100% tariff will apply to all imported semiconductors and chips, affecting major suppliers in Taiwan, South Korea, and Singapore.
(With inputs from syndicated feed)
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