Apple Expands U.S. Investment Plan
Apple announced a fresh $100 billion investment in the U.S. The move comes while the American government under President Donald Trump persists in placing tariffs on some nations. Apple said the funds would be used to fuel the expansion of the local supply chain.
White House Response
White House spokesman Tyler Rogers characterized the move as good news. He explained that the investment would assist in bolstering America's manufacturing industry and enhance economic and national security through the local production of critical equipment.
Total Investment Reaches $600 Billion
With this latest announcement, Apple has now made total investment commitments in the United States amount to $600 billion. The firm had already committed $500 billion to different development projects in the country.
India Manufacturing Raises Concerns
Earlier this year, President Trump expressed his worries over Apple ramping up its production in India. He is said to have conveyed his worries personally to Apple CEO Tim Cook in a meeting in Qatar. Nonetheless, Tim Cook reaffirmed in a recent earnings call that Apple would keep its operations in India going.
Tariffs on India
Apple's latest announcement of investment came on the heels of President Trump declaring his intention to impose an additional 25% tariff on U.S. imports from India. The U.S. cited India's continued oil imports from Russia as justification for this move. These tariffs will start in 21 days, taking the tariff rate to Indian imports to 50%.
Tim Cook's Gift to President Trump
On Wednesday, Tim Cook gave President Trump a special gift. It was a glass Apple logo mounted on a 24-karat gold base. The plaque was created by an Apple employee who had once been in the U.S. Marine Corps, according to Cook.
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