Apple announced on Monday that it intends to invest more than$ 500 billion in the American economy under President Donald Trump’s leadership over the next four years. The$ 500 billion investment was announced as the company’s “largest-ever spend commitment” and came just days after Trump told reporters that Apple was going to be “investing hundreds of billions of dollars” in the U. S. economy as companies attempt to avoid Trump’s tariffs
In a Monday press release, Apple CEO Tim Cook said,” We are bullish on the future of American innovation, and we’re proud to build on our long-standing U. S. investments with this$ 500 billion commitment to our country’s future”.
” From doubling our Advanced Manufacturing Fund, to building innovative technology in Texas, we’re thrilled to increase our support for American manufacturing”, Cook added. ” And we’ll continue to collaborate with people and businesses across this country to contribute to the creation of an amazing new chapter in American technology.”
According to the press release, Apple is planning on increasing its Advanced Manufacturing Fund from$ 5 billion to$ 10 billion, constructing an artificial intelligence server manufacturing factory in Texas, hiring 20, 000 new employees, and creating an Apple Manufacturing Academy in Detroit, Michigan. The organization is likewise planning to develop its facilities and clubs in Arizona, California, Iowa, Michigan, Nevada, North Carolina, Oregon, Texas, and Washington.
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Addressing the$ 500 billion investment in the U. S. economy, Apple stated,” This new pledge builds on Apple’s long history of investing in American innovation and advanced high-skilled manufacturing, and will support a wide range of initiatives that focus on artificial intelligence, silicon engineering, and skills development for students and workers across the country”.
Trump imposed a 10 % tax earlier this month on all imported goods from China. According to ABC7, Apple goods a sizable number of products from China, including the majority of the company’s well-known phone goods. Trump met Cook last Thursday, according to the store, before announcing on Friday that Apple was planning to invest more money in the US market as businesses look for ways to avoid paying the Trump administration’s taxes.
” Tuesday, I had Tim Cook in the office from Apple”, Trump said on Friday. ” He’s investing hundreds of billions of dollars”. After saying he hoped that Cook had now announced the investment, Trump added,” That’s what he told me. He then needs to do it.
