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apple CEO Tim Cook Will join the president Donald Trump On Wednesday, in the Oval Office, announcing an update to the company’s plan invest Manufacturing in the United States.
this iPhone Manufacturers will increase their previous U.S. investments made in February to $600 billion over the next four years, the company said in a press release.
The company also announced a new manufacturing The official said the effort is called the Made in the United States.
Apple’s shares rose 5% in trading Wednesday.
Over the past year, Cook has had a different relationship with Trump. While Trump has praised Apple’s CEO in the past, in recent months he said he had a “problem” with executives and has pushed Apple to assemble its iPhone In the United States, not China or India.
Apple faces more than $1 billion in increased costs This quarter Because Trump tariff Regarding imports, they are mainly related to China. In addition, Cook reminded investors on an August 31 revenue call that the “big majority” of its products will be subject to new tariffs under the Article 232 investigation, a pending tariff on Apple that it will crack down on the company’s semiconductors.
“Obviously, we’re trying to optimize our supply chain and eventually we’re going to do more in the United States,” Cook said.
Apple YTD Stock Chart.
