WASHINGTON: Apple will invest an additional $100 billion in the United States, taking its total pledge to $600 billion over the next four years, US President Donald Trump said Wednesday.
Trump announced the increased commitment at the White House alongside the tech giant’s CEO Tim Cook, calling it “the largest investment Apple has made in America.”
“Apple will massively increase spending on its domestic supply chain,” Trump added, highlighting a new production facility for the glass used to make iPhone screens in Kentucky.
In February, Apple said it would spend more than $500 billion in the United States and hire 20,000 people, with Trump quickly taking credit for the decision.
It builds on plans announced in 2021, when the company founded by Steve Jobs said it would invest $430 billion in the country and add 20,000 jobs over the next five years.
“This year alone, American manufacturers are on track to make 19 billion chips for Apple in 24 factories across 12 different states,” Cook said in the Oval Office.
Trump, who has pushed US companies to shift manufacturing home by slapping tariffs on trading partners, claimed that his administration was to thank for the investment.
“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,” Trump said.
Cook later clarified that, while many iPhone components will be manufactured in the United States, the complete assembly of iPhones will still be conducted overseas.
“If you look at the bulk of it, we’re doing a lot of the semiconductors here, we’re doing the glass here, we’re doing the Face ID module here... and we’re doing these for products sold elsewhere in the world,” Cook said.
Apple reported a quarterly profit of $23.4 billion in late July, topping forecasts despite facing higher costs due to Trump’s sweeping levies.
The tariffs are essentially a tax paid by companies importing goods to the United States. This means Apple is on the hook for tariffs on iPhones and other products or components it brings into the country from abroad.
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Apple to invest additional $100bn in US
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Apple to invest additional $100bn in US
- It builds on plans announced in 2021, when the company founded by Steve Jobs said it would invest $430 billion in the country and add 20,000 jobs over the next five years
South Korea calls for resuming dialogue with North
- President Lee Jae Myung has sought to mend ties with the nuclear-armed North since taking office in June
- North Korean leader Kim Jong Un last week dashed hopes of a diplomatic thaw with Seoul
SEOUL: South Korean President Lee Jae Myung called on Sunday for dialogue with North Korea to resume, after Pyongyang last week shunned the prospect of diplomacy with its neighbor.
Since taking office in June, a dovish Lee has sought to mend ties with the nuclear-armed North, which reaffirmed its anti-Seoul approach during a party meeting last week.
“As my administration has repeatedly made clear, we respect the North’s system and will neither engage in any type of hostile acts, nor pursue any form of unification by absorption,” Lee said in a speech marking the anniversary of a historical campaign against Japan’s colonial rule.
“We will also continue our efforts to resume dialogue with the North,” he said.
North Korean leader Kim Jong Un last week dashed hopes of a diplomatic thaw with Seoul, describing its overtures as “clumsy, deceptive farce and a poor work.”
Speaking at the party congress in Pyongyang, Kim said North Korea has “absolutely no business dealing with South Korea, its most hostile entity, and will permanently exclude South Korea from the category of compatriots.”
But he also said the North could “get along well” with the United States if Washington acknowledges its nuclear status.
Speculation has mounted over whether US President Donald Trump will seek a meeting with Kim during planned travels to China.
Last year, Trump said he was “100 percent” open to a meeting.
Previous Trump-Kim summits during the US president’s first term fell apart after the pair failed to agree over sanctions relief — and what nuclear concessions North Korea might make in return.
Since taking office in June, a dovish Lee has sought to mend ties with the nuclear-armed North, which reaffirmed its anti-Seoul approach during a party meeting last week.
“As my administration has repeatedly made clear, we respect the North’s system and will neither engage in any type of hostile acts, nor pursue any form of unification by absorption,” Lee said in a speech marking the anniversary of a historical campaign against Japan’s colonial rule.
“We will also continue our efforts to resume dialogue with the North,” he said.
North Korean leader Kim Jong Un last week dashed hopes of a diplomatic thaw with Seoul, describing its overtures as “clumsy, deceptive farce and a poor work.”
Speaking at the party congress in Pyongyang, Kim said North Korea has “absolutely no business dealing with South Korea, its most hostile entity, and will permanently exclude South Korea from the category of compatriots.”
But he also said the North could “get along well” with the United States if Washington acknowledges its nuclear status.
Speculation has mounted over whether US President Donald Trump will seek a meeting with Kim during planned travels to China.
Last year, Trump said he was “100 percent” open to a meeting.
Previous Trump-Kim summits during the US president’s first term fell apart after the pair failed to agree over sanctions relief — and what nuclear concessions North Korea might make in return.
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