Trump Hosting Apple Exec to Tout $100 Billion Investment
In the Oval Office on Wednesday afternoon, Trump will announce Apple is adding $100 billion to the $500 billion pledge the company made in February to increase its investment in U.S. manufacturing and tech training, according to two White House officials. The announcement comes as Apple tries to avoid Trump's tariffs on imports impacting the cost of its iPhones and computers in the U.S.
Trump's announcement will bring Apple's promised investment in the U.S. to $600 billion over the next four years. It follows a pattern of Trump stepping forward to tout investments companies are making in the U.S. It's unclear how much of those investments would have been made anyway.
Trump has predicted his threat of tariffs on imports will pressure companies to increase manufacturing inside the U.S. According to the U.S. Bureau of Labor Statistics, the total number of manufacturing jobs in the U.S. has ticked downward slightly since Trump took office.
Apple announced in February that it planned to expand facilities in Arizona, California, Iowa, Oregon, Michigan, Nevada, North Carolina and Washington state. The company said it would construct a new factory in Houston, Texas by the end of 2026 intended to build servers that support Apple's AI products. Apple has also promised to increase education for tech manufacturing workers. The Apple Manufacturing Academy in Detroit, Michigan, is scheduled to open on Aug. 19. Apple said it would double its designated U.S. Advanced Manufacturing Fund from $5 billion to $10 billion.
Apple's investment promises during Trump's second term haven't all been tied to manufacturing. The company said in February that its additional spending would also be used for building more artificial intelligence infrastructure, data centers, and show production for the Apple TV+ streaming service.
'Today's announcement with Apple is another win for our manufacturing industry that will simultaneously help reshore the production of critical components to protect America's economic and national security,' White House assistant press secretary Taylor Rogers said in a statement.
This is a breaking news story that will be updated.
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