Trump Hails Apple's $100 Billion US Investment Commitment As A Coming Home Party
This new pledge adds to the initial commitment of $500 billion made earlier this year, which included plans for a new chip manufacturing plant in Texas. In a post shared on his X account, Apple CEO Tim Cook emphasized that the move "will bring even more jobs and advanced manufacturing to the US."
President Trump has hailed Apple's latest pledge, describing it as "a significant step toward the ultimate goal of ensuring that iPhones sold in America also are made in America."
Considering the timing, it cannot be ruled out that the possibility of increased tariffs on chip imports and the rising tensions between the US and India may have contributed to this pledge. Higher tariffs could lead to an increased cost of iPhones. Some believe Apple's gesture is not simply out of fear of tariffs. They suggest that this commitment aligns with Apple's spending patterns and mirrors its previous commitments to past presidential administrations as well. This may especially be true considering that the pledge is unlikely to result in immediate manufacturing of iPhones in the US.
The Trump administration has continued to deploy tariffs in order to urge companies to establish manufacturing plants in the US. While the long-term effect of this strategy is debatable, its immediate impact cannot be dismissed. It has drawn more commitments from major tech companies to invest more in the US than ever before. However, time will tell if it will deliver the major long term change the administration seeks, reshaping the US into a more prominent tech manufacturing hub and not just a design hub.
