Apple Inc will announce a domestic production beast of $ 100 billion on Wednesday that will focus on bringing more production to the United States, said an official of the White House.
The promise would be a new financial obligation, the official said about the usual state of anonymity.
It comes when President Donald Trump strives for an aggressive tariff and trade agenda, aimed at moving a production back to the United States.
Apple said in February that in the coming four years it would spend $ 500 billion on American investments that will include a gigantic factory in Texas for artificial intelligence servers, while adding around 20,000 research and development jobs throughout the country.
Apple did not immediately respond to requests for comments.
Trump’s rates cost Apple $ 800 million in the quarter of June and encouraged some customers to buy iPhones in the late spring of this year. Apple shifts the production of products that are on its way to the US, the purchasing of iPhones from India and other products such as Macs and Apple Watches from Vietnam.
The ultimate rates that many Apple products can be confronted with remain in Flux and many of its products are currently exempt.
“Today’s announcement with Apple is another victory for our production industry that will at the same time help to repeat the production of critical components to protect the economic and national security of America,” said Witte Huis spokeswoman Taylor Rogers in a statement.
The previously announced $ 500 billion in expected expenditure from Apple contains everything, from purchases from American suppliers to us filming television programs and films for its Apple TV+ service.
Nancy Tengler, CEO and CIO of Laffer Tenger Investments, who owns Apple shares, said that the announcement would be a “smart solution for the president’s requirement that Apple produces all iPhones in the US
“The stock is on the news, probably a auxiliary prally that (Apple CEO Tim) Cook, which is largely stamped in response to the attacks on the company, expands an olive branch.”
Earlier, the Economic Adviser to the White House, Kevin Hassett, told FOX Business Network that Apple would probably make an investment announcement on Wednesday, while he discussed the financial commitments by companies and countries under Trump.
