United States President Donald Trump and Apple CEO Tim Cook have announced that the tech giant will invest an additional US$100 billion into domestic companies and supplies..
This will be on top of the already US$500 billion Apple promised to spend on domestic funding, increasing the total number to US$600 billion. The company has also claimed it will hire 20,000 US workers over the next four years.
“Today, we’re proud to increase our investments across the United States to $600 billion over four years and launch our new American Manufacturing Program,” Cook said in a statement.
“This includes new and expanded work with 10 companies across America. They produce components that are used in Apple products sold all over the world, and we’re grateful to the President for his support.”
According to Trump, this is the largest investment Apple has ever made.
“As you know, Apple has been an investor in other countries a little bit, I won’t say which ones, but a couple, and they’re coming home,” he said.
Trump also said he expects the new U.S. factories to be built soon based on his policies.
Cook also announced the Apple Manufacturing Program (AMP, where it will partner with tech companies like Corning, Coherent, GlobalWafers America (GWA), Applied Materials, Texas Instruments (TI), Samsung, GlobalFoundries, Amkor, and Broadcom.
Apple has also announced that it has partnered with Corning in a US$2.5 billion commitment to producing all the cover glass for iPhone and Apple Watch in Kentucky. Apple and Coherent also agreed to produce lasers for the iPhone’s facial recognition system.
This comes as Trump said he will impose a 100% tariff on semiconductors, as demand for the computer chips continues to rise worldwide.
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