Apple plans to increase its investment in the United States to $ 100 billion (£ 75 billion) as a technology giant is under pressure from President Donald Trump.
The White House said that this money will be used to encourage companies to create more Apple parts in the United States and will add the company’s previous pledge to spend $ 500 billion in the United States for four years.
Trump called Apple earlier this year, and threatened to raise tariffs on the product if the iPhone manufacturing was not moved to the United States.
Last week, Apple’s chief executive Tim Cook mentioned the company’s initial promise and said he was looking for more “more things,” trying to avoid the ripples of tariffs that the product was ready to reach the product.
The president said that as part of the investment at the White House on Wednesday, Apple would create a new data center nationwide and build a smart glass production line that will be used for iPhone and smartwatches in Harrisburg, Kentucky.
Trump has praised the company for converting production to the United States and said it will avoid 100% tariffs on chips and semiconductors. He did not provide more information on the new tariff plan, but other companies said they could avoid taxes by investing in the United States.
Mr. COOK, who personally donated $ 1 million to Trump’s inauguration committee with Trump, said the company’s initial $ 5 million domestic investment is already “calculating the results.”
“The new funds will be more production in the United States for the important components used for Apple products around the world,” he said.
Cook also presented Trump with a glass statue, and he gathered at a decisive desk of the oval office.
Analysts said that it would take time to change Apple’s supply chain. But the company’s promise said Trump will focus on increasing the US business investment, which will help to be treated lightly from the White House.
Stocks surged more than 5% on Wednesday after the news.
The White House said in a statement published on Wednesday that the company’s latest pledge is a sign that Trump’s policy is convincing the company to invest more money in the United States.
A White House spokesman said, “Today’s announcement of Apple will help to reproduce the production of important components to protect the US economy and national security with another victory in the manufacturing industry.”
Apple has long made massive products in China for a long time.
It agreed to make more investments in the United States in the announcement that it was adjusted with the White House, and avoided the obligation for Trump’s first term.
However, since Trump started a new tariff war in January, it has been scrambling since the announcement of 30%of Chinese products.
Apple re -operated the supply chain and usually transported it to the United States in India and Vietnam, and the tariffs on exports were lowered.
However, the company still paid more than $ 800 million in a new border tax on the product for three months in June, reflecting Trump’s so -called mutual tariffs since April.
Despite the exemption from the White House’s actions in April, it is expected to pay $ 1.1 billion in the next few months.
Target worries have increased as tariffs on Indian products are expected to increase by up to 50%.
COOK emphasized the long -standing strategy of investing in Apple’s participation in the US and “third parties” by calling with investors.
He pointed out that he plans to start a manufacturing academy in Michigan. In addition, we are trying to expand the production of rare earths in the United States with a pledge to purchase $ 500 million from MP materials. The US government has promised the minimum price for production by taking a stake in the company.
After returning to his office, Trump has often promoted a famous investment promise of a company like Apple. The analysts say that his numbers often appear to be exaggerated and there is no evidence of a wider trend yet.
Paolo Pescatore, the founder of PP Foresight, said that he praised COOK for Apple’s Deft Navigation through “Turbulent Times”, but he did not see what investment means in many other works in the Apple device.
“It is definitely impossible to think that this case is now, it is impossible to think that everything is suddenly produced, manufactured and worked together in the United States,” he said.
