President Donald Trump on Wednesday is expected to celebrate at the White House a commitment by Apple to increase its U.S. investments by an additional $100 billion over the next four years.
“Today’s announcement with Apple is another win for our manufacturing industry that will simultaneously help reshore the production of critical components to protect America’s economic and national security," White House spokeswoman Taylor Rogers said.
Apple had previously said it intended to invest $500 billion domestically, a figure it will now increase to $600 billion. Trump in recent months has criticized the tech company and its CEO, Tim Cook, for efforts to shift iPhone production to India to avoid the tariffs his Republican administration had planned for China.
While in Qatar earlier this year, Trump said there was “a little problem” with Apple and recalled a conversation with Cook in which he said he told the CEO, “I don’t want you building in India.”
India has incurred Trump’s wrath, as the president signed an order Wednesday to put an additional 25% tariff on the world’s most populous country for its use of Russian oil. The new import taxes to be imposed in 21 days could put the combined tariffs on Indian goods at 50%.
As part of the Apple announcement, the investments will be about bringing more of its supply chain and advanced manufacturing to the U.S.
Apple Inc., which is based in Cupertino, California, didn't immediately comment Wednesday.
Bloomberg News first reported the announcement of Apple’s additional investment commitment.
