Washington: Apple will invest an additional $ 100 billion in the United States, making its total commitment to $ 600 billion in four years. US President Donald Trump revealed the extended pledge during the announcement of the White House with CEO Tim Cook.
Trump has described it as “the largest investment apple in the US”. Tech giants will promote spending on their domestic supply chain, including a new centi facility producing iPhone screen glass.
It follows Apple’s February pledge, which invests more than $ 500 billion and produces 20,000 American jobs, which Trump first credited with his policies. The initiative is extended to $ 430 billion in US investments and 2021 schemes for 20,000 new posts.
Cook said that American manufacturers will produce 19 billion chips for Apple this year in 24 factories in 12 states. Trump connected investment with his tariff policies, which encourages domestic manufacturing.
The President said that it is a step towards ensuring that “the iPhones sold in the United States are also made in the US.” However, Cook clarified that the final iPhone assembly would remain abroad despite the American-made components.
Apple reported a quarterly benefit of $ 23.4 billion despite the recent increase in tariffs.
The company pays import taxes on foreign-and-iphone components under the trade policies of Trump. – AFP
