A report says that Trump will shortly make an announcement from the White House claiming that Apple will spend a further $100 billion on US manufacturing over the next four years.
Apple has so far not confirmed the announcement, which would bring its total domestic spending promise to $600 billion …
Bloomberg reports on what appears to be advance sight of a White House press release.
President Donald Trump will announce that Apple Inc. will commit to spend another $100 billion on domestic manufacturing, the latest pledge by the tech giant to increase US production of its products as it seeks to avoid punishing tariffs on its flagship iPhones […]
Wednesday’s announcement will bring Apple’s cumulative commitment to $600 billion, the White House said.
There are no details as to what would be manufactured in the US. Previous plans announced by Apple include server manufacturing and a manufacturing academy in Michigan.
Top comment by Anthony Lee
If a product says Made In The USA or America, we put it down, laugh and walk away. I have no problems refusing to use Apple products if they are made in the USA.
Trump has previously argued that Apple could build iPhones in the US using robots, but insiders have rejected this, given a lack of both manufacturing expertise and workforce in the country.
Apple said in last week’s earnings call that import tariffs have so far cost it an additional $800 million. It expects a further $1.1 billion in tariff costs in the following quarter. Since then, however, Trump has threatened further tariffs on imports from India, which could cost Apple around $10 billion a year.
The company’s stock price jumped 3.5% on the news, likely because appeasing Trump is seen as improving the company’s prospects in future tariff announcements.
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