In a strategic move to combat the impact of Trump’s trade tariffs, tech giant Apple has revealed plans to invest over $500 billion in the United States. This includes hiring 20,000 new employees and establishing a server factory in Texas. The announcement was made after a meeting between CEO Tim Cook and President Donald Trump last week.
This is not the first time Apple has responded to tariff threats with financial commitments. In early 2018, they promised 20,000 jobs and a $350 billion investment in the US during Trump’s first term as president. They were also successful in obtaining exemptions for some products from tariffs on Chinese imports. With this new investment, Apple may be seeking further protection from potential future charges by Trump.
The company has already outlined specific elements of their increased US spend, including the opening of a new factory in Houston next year which will create thousands of jobs and produce servers for their AI features. They are also doubling their Advanced Manufacturing Fund from $5 billion to $10 billion, with plans to purchase chips from an Arizona-based TSMC factory.
In addition to job creation and investments, Apple is also committed to supporting American innovation through R&D initiatives focused on AI technology and machine learning. They will also open an Apple Manufacturing Academy in Detroit where local businesses can receive consultations from experts on implementing smart manufacturing techniques.
Apple CEO Tim Cook expressed enthusiasm for this commitment towards American innovation stating that it is “bullish on the future.” He believes this investment will pave way for extraordinary progress in history.
This announcement follows another recent pledge by Apple to invest $430 billion over five years including a campus in North Carolina which is currently under development. With this latest bold move, it’s clear that Apple remains dedicated towards fostering growth and success within America’s tech industry.