logo
Tim Cook Gifts Trump 24K Gold Emblem as Apple Commits $600 Billion to U.S.—Internet Slams CEO for 'Bending the Knee'

Tim Cook Gifts Trump 24K Gold Emblem as Apple Commits $600 Billion to U.S.—Internet Slams CEO for 'Bending the Knee'

Apple CEO Tim Cook met President Donald Trump in the Oval Office on Wednesday and announced a new $100 billion investment in America to boost manufacturing within the country. The latest investment will bring the total pledged investment amount to $600 billion over the next 4 years. During the meeting, Cook presented the president with a unique glass emblem mounted on a 24-karat gold base.
X
The gold for the emblem was sourced from Utah to show Apple's commitment to using national resources. It was custom-made to be a gift to the President. It is designed by an ex-Marine who works as a designer at Apple. The emblem is inscribed with:
PRESIDENT DONALD J. TRUMP
APPLE AMERICAN MANUFACTURING PROGRAM
MADE IN USA
2025."
Earlier this week, Trump warned the United States could apply tariffs of up to 100% on imports of computer chips or other high-tech parts from overseas. On the other hand, businesses that create jobs and manufacturing in the U.S. would be shielded. This latest Apple initiative might also be a strategic move to steer clear of potential regulatory backlash and show solidarity with President Trump's economic mantra of 'America First.'
X
The $600 billion investment will be distributed and utilized in multiple states. Apple previously announced plans to increase its operations in Austin, Texas—where it already has a major campus—and build new sites across the country in North Carolina, Arizona, and the Midwest.
At such sites, advanced chip production, data center infrastructure, and AI research labs will be the focus. The majority of the expenditure will also go to Apple's supply chain partners, including Broadcom, Corning, GlobalFoundries, and Texas Instruments, as well as Samsung's US-based chip division.
X
The initiative, which Cook said will support the creation of more than 450,000 U.S. jobs—including an additional 20,000 direct Apple hires focused on AI engineering, semiconductor design, and software development in addition to hardware assembly—was started before the current administration. Apple also planned to work more closely with American suppliers with a view to sourcing materials for iPhones, iPads, and Macs on the continent.
"All of our aspirations are to grow in America and to do all of that and support American workers," Cook said.
This commitment to $600 billion is all about building at home, into the future.
Apple scored a shoutout during the meeting from President Trump, who praised the company as "a true American success story" and credited its domestic expansion as a blueprint for other tech giants. Former Speaker Newt Gingrich also supported Cook, saying that great CEOs understand the importance of working with U.S. leadership, regardless of political differences.
Not everyone is convinced by Cook's decision to make more investments within the USA. They also brought up Apple's past disputes over Trump's immigration and environmental policies, questioning whether the decision is genuine or made out of compulsion.
Some even feel that Cook has finally 'bent the knees' in front of Trump. However, in the present volatile trade scenario, most experts feel that Cook's decision is less political and more focused on long-term business survival. With his pledge, Cook is making Apple more all-American—and insulating it from mounting geopolitical tensions.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Nasdaq ends at record, Dow falls as tariff hikes take effect
Nasdaq ends at record, Dow falls as tariff hikes take effect

Straits Times

time24 minutes ago

  • Straits Times

Nasdaq ends at record, Dow falls as tariff hikes take effect

Sign up now: Get ST's newsletters delivered to your inbox Traders working on the floor of the New York Stock Exchange, at the opening bell on Aug 7, in New York City. NEW YORK - The Dow fell while the Nasdaq finished at a fresh record on Aug 7 as markets grappled with worries over lofty equity valuations in light of President Donald Trump's aggressive trade policies. The mixed session reflected lingering unease as new US tariff increases took effect. 'This tariff issue is still an overhang for the market as it kind of contemplates what that might mean in terms of inflation, what it might mean in terms of earnings,' said analyst Patrick O'Hare. 'There's concerns about the market acting a little bit too complacent around these tariffs.' The Dow Jones Industrial Average finished down 0.5 per cent at 43,968.64. The broad-based S&P 500 dipped 0.1 per cent to 6,340.00, while the tech-rich Nasdaq Composite Index gained 0.4 per cent to 21,242.70, a new all-time high. Under a previously announced White House policy, import duties rose from 10 per cent to levels between 15 per cent and 41 per cent for a list of trading partners. Top stories Swipe. Select. Stay informed. Singapore Liquor licences for F&B, nightlife venues extended to 4am in Boat Quay, Clarke Quay Singapore Chikungunya cases in Singapore double; authorities monitoring situation closely Singapore Student found with vape taken to hospital after behaving aggressively in school; HSA investigating Asia Cambodia, Thailand agree on Asean observers monitoring truce, but fundamental differences remain Asia Trump ratchets up tariff pressure on India, sparking despair among exporters and growth fears Singapore CDC and SG60 vouchers listed on e-commerce platforms will be taken down: CDCs Asia Australia's purchase of Japanese frigates signals a new era for Indo-Pacific security Singapore Some ageing condos in Singapore struggle with failing infrastructure, inadequate sinking funds Stocks have risen much of the summer as investors have been embracing a view that the US economy remains on solid footing and that the impact of higher levies has not been as bad as feared. But some market watchers expect a pullback in light of valuations that are priced for meaningful earnings growth. Among individual companies, Intel dropped 3.1 per cent as Mr Trump called on the chipmaker's CEO, Mr Lip-Bu Tan, to resign after a Republican senator raised national security concerns over his links to firms in China. Eli Lilly plunged 14.2 per cent despite reporting a near-doubling of profits on higher revenues. The drugmaker also released results of clinical testing of a weight loss pill that looked positive 'on the surface' but indicated less impact than candidates by other companies, said Airbnb dropped 8 per cent on disappointment over the company's outlook. The vacation rental company described demand as encouraging, but warned of weak growth figures later in the year. AFP

Lawsuit accuses Apple of stealing trade secrets to create Apple Pay
Lawsuit accuses Apple of stealing trade secrets to create Apple Pay

CNA

time24 minutes ago

  • CNA

Lawsuit accuses Apple of stealing trade secrets to create Apple Pay

Apple has been sued by a Texas company that accused the iPhone maker of stealing its technology to create its lucrative mobile wallet Apple Pay. In a complaint made public on Thursday, Fintiv said Apple Pay's key features were based on technology developed by CorFire, which Fintiv bought in 2014, and now used in hundreds of millions of iPhones, iPads, Apple Watches and MacBooks. Apple did not immediately respond to requests for comment. Fintiv, based in Austin, Texas, said Apple held multiple meetings in 2011 and 2012 and entered nondisclosure agreements with CorFire aimed at licensing its mobile wallet technology, to capitalize on fast-growing demand for contactless payments. Instead, and with the help of CorFire employees it lured away, Apple used the technology and trade secrets to launch Apple Pay in the United States and dozens of other countries, beginning in 2014, the complaint said. Fintiv also said Apple has led an informal racketeering enterprise by using Apple Pay to generate fees for credit card issuers such as Bank of America, Capital One, Citigroup, JPMorgan Chase and Wells Fargo, and the payment networks American Express, Mastercard and Visa. "This is a case of corporate theft and racketeering of monumental proportions," enabling Cupertino, California-based Apple to generate billions of dollars of revenue without paying Fintiv "a single penny," the complaint said. In a statement, Fintiv's lawyer Marc Kasowitz called Apple's conduct "one of the most egregious examples of corporate malfeasance" he has seen in 45 years of law practice. The lawsuit in Atlanta federal court seeks compensatory and punitive damages for violations of federal and Georgia trade secrets and anti-racketeering laws, including RICO. Apple is the only defendant. CorFire was based in Alpharetta, Georgia, an Atlanta suburb. On August 4, a federal judge in Austin dismissed Fintiv's related patent infringement lawsuit against Apple, four days after rejecting some of Fintiv's claims, court records show. Fintiv agreed to the dismissal, and plans to "appeal on the existing record," the records show. The case is Fintiv Inc v Apple Inc, U.S. District Court, Northern District of Georgia, No. 25-04413.

Forum: Practical solutions needed to deal with issues facing ageing condos
Forum: Practical solutions needed to deal with issues facing ageing condos

Straits Times

timean hour ago

  • Straits Times

Forum: Practical solutions needed to deal with issues facing ageing condos

Sign up now: Get ST's newsletters delivered to your inbox I refer to the report, ' Some ageing condos in Singapore struggle with failing infrastructure, inadequate sinking funds ' (Aug 7), which highlights chronic issues such as lift breakdowns in ageing condominiums. With over 800 condominium developments at least 30 years old, Singapore faces a growing risk of deteriorating infrastructure that threatens both safety and property value. I would like to suggest some practical solutions that work within Singapore's legal and financial systems. Management corporation strata titles (MCSTs) need better tools to finance major repairs. One option is government-backed, low interest loans with strict oversight. We could also allow automatic deduction of unpaid levies during property sales, ensuring financial transparency and continuity. Special levies can be a heavy burden, especially for elderly residents. Means-tested assistance, such as subsidies or flexible payment plans, could help ensure no one is forced to choose between safety and savings. The Building and Construction Authority should also be empowered to act faster and more decisively when MCSTs fail to maintain critical infrastructure. This could include streamlined intervention processes and tougher penalties for non-compliance. Top stories Swipe. Select. Stay informed. Singapore Liquor licences for F&B, nightlife venues extended to 4am in Boat Quay, Clarke Quay Singapore Chikungunya cases in Singapore double; authorities monitoring situation closely Singapore Student found with vape taken to hospital after behaving aggressively in school; HSA investigating Asia Cambodia, Thailand agree on Asean observers monitoring truce, but fundamental differences remain Asia Trump ratchets up tariff pressure on India, sparking despair among exporters and growth fears Singapore CDC and SG60 vouchers listed on e-commerce platforms will be taken down: CDCs Asia Australia's purchase of Japanese frigates signals a new era for Indo-Pacific security Singapore Some ageing condos in Singapore struggle with failing infrastructure, inadequate sinking funds We must evolve Singapore's regulatory framework to meet the realities of ageing private estates. By bridging the gap between oversight and financial capability, we can protect both our homes and our communities. Keith Wong

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store