Apple (Nasdaq: AAPL) CEO Tim Cook joined President Donald Trump at the White House on Wednesday to announce the tech giant will invest an additional $100 billion in US manufacturing over the next four years, bringing the company’s total domestic commitment to $600 billion.
The announcement comes as Trump threatened to impose 100% tariffs on semiconductor imports, though he said Apple would be exempt due to its US manufacturing pledges.
“This is the largest investment Apple has ever made in America and anywhere else,” Trump said during the Oval Office event. “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.”
Sponsored · Selkirk Copper Mines
The new investment includes Apple’s American Manufacturing Program, designed to move more of the company’s supply chain to domestic facilities. Key commitments include $2.5 billion for iPhone glass manufacturing expansion with Corning in Kentucky and production of more than 19 billion chips annually across 24 US factories in 12 states.
Apple said the program will work with suppliers including Corning, Texas Instruments, Samsung, and Broadcom to manufacture components domestically. Apple said all iPhone and Apple Watch cover glass worldwide will be manufactured in Kentucky.
The investment builds on Apple’s $500 billion commitment announced in February. Cook said Trump had challenged the company to do more during previous discussions about the initial pledge.
“President Trump shared some kind words about that work, but he also asked us to think about what more we could commit to doing,” Cook said. “Mr. President, we took that challenge very seriously.”
Sponsored · Silver47 Exploration Inc.
Read: The South Korea Deal Trump Called Historic ‘Gift’ Is Actually A High-Interest Lending Program
Apple currently faces tariffs that the company estimates will cost $1.1 billion in the current quarter. The tech giant has been shifting some iPhone assembly to India to avoid Chinese tariffs, though those products will also face increased duties under Trump’s trade policies.
The company has a track record of following through on manufacturing promises. Since launching its Advanced Manufacturing Fund in 2017 with $1 billion, Apple has deployed investments to suppliers like Corning and II-VI, supporting thousands of jobs across multiple states.
Apple’s expanded US footprint includes a TSMC semiconductor facility in Arizona where the company is the largest customer, employing over 2,000 workers in chip production that began last month.
The White House said the announcement supports Trump’s goal of reshoring critical manufacturing to protect national security interests.
Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
