WASHINGTON (AP) — Apple CEO Tim Cook joined President Donald Trump at the White House on Wednesday to announce a commitment by the tech company to increase its investment in U.S. manufacturing by an additional $100 billion over the next four years.
“This is a significant step toward the ultimate goal of ensuring that iPhones sold in the United States of America also are made in America,” Trump said at the press conference. “Today’s announcement is one of the largest commitments in what has become among the greatest investment booms in our nation’s history.”
As part of the Apple announcement, the investments will be about bringing more of its supply chain and advanced manufacturing to the United States as part of an initiative called the American Manufacturing Program, but it is not a full commitment to build its popular iPhone device domestically.
“This includes new and expanded work with 10 companies across America. They produce components — semiconductor chips included — that are used in Apple products sold all over the world, and we’re grateful to the President for his support,” Cook said in a statement announcing the investment.
The new manufacturing partners include Corning, Coherent, Applied Materials, Texas Instruments and Broadcom among others.