Earlier this year, Apple had already committed to a $500 billion investment in the US over four years, which included the creation of 20,000 new jobs across the country.
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Apple CEO Tim Cook presented a special gift to former US President Donald Trump during a press event at the White House, followed by a major announcement about expanding Apple’s investments in the United States.
The event took place on Wednesday (local time), where Cook handed Trump a unique piece of glass artwork. The glass, placed on a base made of 24-karat gold, was engraved specifically for Trump and made by a former US Marine who now works at Apple.
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“This box was made in California. The glass is from our production line. It’s a one-of-a-kind piece designed by a US Marine Corps veteran who works at Apple now. The gold base is from Utah,” said Cook, while presenting the gift to Trump.
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But the event was more than just a symbolic exchange.
Shortly after presenting the gift, Cook announced Apple’s plans to invest an additional $100 billion into US manufacturing, pushing the company’s total investment commitment in the country to $600 billion over the next four years.
“This year alone, American manufacturers are expected to produce 19 billion chips for Apple in 24 factories across 12 states,” Cook revealed.
A key part of this expanded investment includes Apple’s commitment to only use American-made rare-earth magnets in its products moving forward. These magnets are essential parts in many Apple devices, including iPhones, and will now be supplied by MP Materials, the only fully integrated rare-earth producer in the United States.
Cook also shared that Apple and MP Materials will work together to expand a major facility in Fort Worth, Texas, and also build a new advanced rare-earth recycling center in Mountain Pass, California.
Earlier this year, Apple had already committed to a $500 billion investment in the US over four years, which included the creation of 20,000 new jobs across the country.
Experts believe that these decisions are also strategically timed, as they may help Apple reduce risks related to increasing import tariffs. With the US government placing more taxes on goods brought in from abroad, Apple’s move to manufacture more locally could save the company from future financial impacts.
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