President Trump has been in talks with several companies regarding the setup of manufacturing plants in the US. As a result, TSMC recently announced that it will set up its third manufacturing unit in the region. The homegrown tech brand, Apple, has now planned an additional $100 billion investment in the region, which will be announced later today by the President.
President Trump will soon announce Apple’s $100 billion investment
The Trump administration has been consistently pushing Apple to set up its regional manufacturing unit. It even threatened the brand to impose an additional 25% tariff if they do not start the local manufacturing.
Apple had previously announced a total of $500 billion investment in the US. Now, the company is set to invest another $100 billion in the region, primarily meant for the setup of its local manufacturing unit. Counting the latest investment, the firm has not committed a total of $600 billion into the market.
Apple will soon set up a local manufacturing unit in the US
Earlier, Apple had announced that it would invest as much as $400 billion in the market in the course of the next four years. It would set up a new local manufacturing plant in Houston and a new supplier academy in Michigan. The company also committed additional spending on the domestic suppliers. All this to boost the domestic economy and the job market.
The spokesperson of the White House says in the official statement that “President Trump’s America First economic agenda has secured trillions of dollars in investments. This will support American jobs and bolster American businesses. Today’s announcement with Apple is another win for our manufacturing industry. And it will simultaneously help reshore the production of critical components to protect America’s economic and national security.”
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