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Apple invests another $100 billion in US manufacturing

The iPhone maker is investing an additional $100 billion in manufacturing in the U.S., bringing its total investment to $600 billion, in an effort to increase domestic production and avoid tariffs.

© Evan Vucci/Associated Press

President Trump called the Apple investment a “significant step towards the ultimate goal of ensuring that iPhones sold in the United States of America are also made in America.”

“This is the largest investment Apple has ever made in America or anywhere else,” he said, alongside Apple CEO Tim Cook in the Oval Office. “And it’s just an honor to have you. 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, they’re coming home.”

The announcement includes the launch of the American Manufacturing Program, which is dedicated to bringing more of Apple’s supply chain to the U.S. and involves the tech giant incentivizing other companies to manufacture more critical components domestically.

Trump said that investments will create more than 20,000 new American jobs and thousands of other jobs at Apple’s suppliers, like Samsung and Corning.

Cook, in the Oval Office, showed off a glass dish made in Kentucky, which was designed by a former Marine who works at Apple, that sits on a 24-karat gold base. He set it up on the Resolute Desk as a gift for Trump.

The Apple CEO announced that every new iPhone and Apple Watch sold anywhere in the world will contain cover glass made in Kentucky.

“We’re doing things in the United States instead of other countries. Far away countries,” Trump said.

The president then touted other private sector investments into U.S. manufacturing, including Nvidia, Micron Technology, IBM and SoftBank.

The Hill's Alex Gangitano has more here.

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