Apple is said to be increasing its investment in US production by another $100 billion, per an agreement touted by the White House.
In a statement planned for 4:30 p.m. ET on Aug. 6, President Donald Trump is set to unveil the creation of American Manufacturing Program. It will be part of an agreement that would raise the US production investments from world’s top tech company from $500 billion, as previously announced, to $600 billion over the next four years. Apple said in February it was also planning to hire 20,000 US workers over that time period.
The increase was first reported by Bloomberg and the announcement is rumored to happen at an event attended by Apple CEO Tim Cook. Representatives for Apple and the White House did not immediately respond to requests for comment.
Apple has been shifting the way it produces its products this year in response to the steep tariffs against countries where it does manufacturing of most of its flagship products such as iPhones. While Apple and other major technology companies don’t make smartphones in the US, some assembly of products using components made overseas can be done in the US.
The company has moved some production from China to countries including India and Vietnam to bypass tariffs and to reduce its reliance on China’s extensive manufacturing supply chains. Smartphone makers have been facing tariffs as steep as 25 percent and Apple is trying to avoid steep price hikes on its products. The company is gearing up for the launch of the iPhone 17 in September.
