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Apple CEO Tim Cook volition articulation President Donald Trump successful the Oval Office Wednesday for an announcement touting an update to the company's program to invest successful U.S. manufacturing.
The iPhone shaper volition rise its erstwhile U.S. investment, made successful February, from $500 cardinal to $600 cardinal implicit the adjacent 4 years, the institution said successful a release.
The institution besides announced a caller manufacturing effort called the American Manufacturing Program, the authoritative said.
Apple shares roseate 5% during trading connected Wednesday.
Cook has had a mixed narration with Trump implicit the past year. While Trump has praised the Apple CEO successful the past, successful caller months helium has said helium has a "problem" with the enforcement and has pushed for Apple to assemble its iPhones successful the U.S., not China oregon India.
Apple faces implicit $1 cardinal successful accrued costs this quarter due to the fact that of Trump's tariffs connected imports, chiefly related to China. Also, Cook reminded investors during its net telephone Aug. 31 that "the immense majority" of its products would beryllium taxable to caller tariffs nether a Section 232 investigation, a benignant of pending tariff connected semiconductors that Apple says volition deed the company.
"We evidently effort to optimize our proviso chain, and yet we volition bash much successful the United States," Cook said.
Apple YTD banal chart.
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