U.S. President Donald Trump and Apple CEO Tim Cook are likely to announce an increase in Apple’s commitment to invest $500 billion in the country. According to reports, the iPhone-maker may add $100 billion more to its U.S.-focused investment plans.
The Cupertino, California-based company is strategizing ways to increase the production and manufacturing of its devices from the U.S. amid President Trump’s call to Big Tech firms asking them to prioritize domestic hirings and operations. Apple has named the initiative as the “American Manufacturing Program”.
Citing a White House official, CNBC said that Apple CEO Tim Cook will join President Trump in the Oval Office to confirm the development on August 7. The investment will be spanned in a four-year time period.
In February, Apple had pledged $500 billion towards its U.S.-focused roadmap. At the time, the tech giant had said that it will be expanding its
The company, that presently produces most of its smartphones in China and India, is working on establishing a new factory in Texas. In February, Apple had pledged $500 billion to expand its facilities in Michigan, Texas, California, Arizona, Nevada, Iowa, Oregon, North Carolina, and Washington.
According to the data it shared in May, Apple claimed it supports 2.9 million jobs and uses 24 U.S. factories to produce silicon for its products.
It has further committed to increase investments in AI and silicon engineering in the U.S.
Clarity on Apple’s additional investment in the U.S. remains awaited for now. It does, however, comes under the spotlight nearly three months after President Trump threatened 25 percent tariffs on smartphones manufactured outside the U.S.
Earlier last week, the U.S. President also directed Big Tech firms to halt hiring from India and China as the global AI race intensifies internationally.