Trump, Apple to announce new US$100b US investment pledge: Bloomberg
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The news: US President Donald Trump is set to announce a USD100 billion ($154 billion) commitment from Apple toward manufacturing in the US, Bloomberg reports.
The context: A White House official told Bloomberg that the commitment will include a new manufacturing program designed to bring more of Apple’s supply chain to the US and will target manufacturing additional critical components domestically.
The news is expected to be announced by Trump on Wednesday, with Apple CEO Tim Cook in attendance.
“President Trump’s America First economic agenda has secured trillions of dollars in investments that support American jobs and bolster American businesses. Today’s announcement with Apple is another win for our manufacturing industry that will simultaneously help reshore the production of critical components to protect America’s economic and national security,” White House spokesperson Taylor Rogers said in a statement to Bloomberg.
The investment will bring Apple’s total US investments in 2025 to USD600 billion. In February, Apple vowed to spend USD500 billion in the US over the next four years, which would include building a new factory based in Texas.
The investment would not cover Apple’s full shift to a US-based production that Trump has pushed for, but it may soften the 25% tariffs Trump has previously threatened if Apple didn’t move manufacturing to the US.
Despite beating earnings forecasts, last week Apple warned that it took an USD800 million hit from tariffs in the June quarter and expects them to add USD1.1 billion its costs in the September quarter.
