Tech giant’s plan to up domestic investment over next four years comes as it seeks to avoid Trump’s threatened tariffs
Donald Trump on Wednesday is expected to celebrate a commitment by Apple to increase its investments in US manufacturing by an additional $100bn over the next four years.
“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,” a White House spokesperson, Taylor Rogers, said.
Apple’s plan to up its domestic investment comes as it seeks to avoid Trump’s threatened tariffs, which would increase the tech giant’s costs as it relies on a complex international supply chain to produce its iPhones. Apple’s CEO, Tim Cook, warned during an earnings call in May that the tariffs could cost the company up to $900m that fiscal quarter alone.
Apple had previously said it intended to invest $500bn domestically, a figure it will now increase to $600bn. Trump in recent months has criticized the tech company and Cook for efforts to shift iPhone production to India to avoid the tariffs his Republican administration had planned for China. The same day as the White House announcement, Trump doubled US tariffs on India from 25% to 50%.
