Apple announced on Monday that it is planning to invest over $500 billion in the United States economy over the next four years under President Donald Trump’s administration. The $500 billion investment was announced as the company’s “largest-ever spend commitment” and came just days after Trump told reporters that Apple was going to be “investing hundreds of billions of dollars” in the U.S. economy as companies attempt to avoid Trump’s tariffs
In a Monday press release, Apple CEO Tim Cook said, “We are bullish on the future of American innovation, and we’re proud to build on our long-standing U.S. investments with this $500 billion commitment to our country’s future.”
“From doubling our Advanced Manufacturing Fund, to building advanced technology in Texas, we’re thrilled to expand our support for American manufacturing,” Cook added. “And we’ll keep working with people and companies across this country to help write an extraordinary new chapter in the history of American innovation.”
According to the press release, Apple is planning on increasing its Advanced Manufacturing Fund from $5 billion to $10 billion, constructing an artificial intelligence server manufacturing factory in Texas, hiring 20,000 new employees, and creating an Apple Manufacturing Academy in Detroit, Michigan. The company is also planning to expand its facilities and teams in Arizona, California, Iowa, Michigan, Nevada, North Carolina, Oregon, Texas, and Washington.
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Addressing the $500 billion investment in the U.S. economy, Apple stated, “This new pledge builds on Apple’s long history of investing in American innovation and advanced high-skilled manufacturing, and will support a wide range of initiatives that focus on artificial intelligence, silicon engineering, and skills development for students and workers across the country.”
Trump implemented a 10% tariff on all imported goods from China earlier this month. ABC 7 reported that Apple imports a significant number of products from China, including a majority of the company’s popular iPhone products. The outlet noted that Trump met Cook last Thursday before announcing on Friday that Apple was planning on investing more money in the U.S. economy as companies are seeking ways to avoid paying the Trump administration’s tariffs.
“Yesterday, I had Tim Cook in the office from Apple,” Trump said on Friday. “He’s investing hundreds of billions of dollars.” After saying he hoped that Cook had already announced the investment, Trump added, “That’s what he told me. Now he has to do it.”
