According to an agreement promoted by the White House, Apple is reportedly boosting its investment in US manufacturing by an additional $100 billion.
In an announcement scheduled for August 6 at 4:30 p.m. ET, President Donald Trump will announce the establishment of the American Manufacturing Program. As part of an agreement, the world’s leading tech corporation will increase its US production investments from $500 billion to $600 billion over the following four years. In February, Apple announced that it also intended to hire 20,000 US workers over that time.
According to rumors, Apple CEO Tim Cook attended the event where the announcement was made, and Bloomberg was the first to publish the rise.
Requests for response were not immediately answered by the White House and Apple representatives.
In reaction to the high tariffs imposed on nations where it manufactures the majority of its key items, including iPhones, Apple has been changing the way it makes its products this year. Although smartphones are not manufactured in the US by Apple or other large tech companies, certain product assembly of foreign-sourced components can be carried out in the US.
In order to avoid tariffs and lessen its dependency on China’s vast manufacturing supply chains, the corporation has shifted some of its production from China to nations like Vietnam and India.
Apple is attempting to prevent significant price increases for its products, and smartphone manufacturers have been subject to tariffs as high as 25%. The business is preparing for the September release of the iPhone 17.
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