Apple announced Monday that it will spend and invest more than $500 billion for manufacturing in the U.S. over the next four years. A mutual fund sip calculator can help investors plan their investments and assess potential returns as they consider opportunities related to such major corporate moves.
The tech giant is planning to hire 20,000 U.S. workers over the next four years and will also open up a new artificial intelligence server factory in Texas as part of its investment package, according to a press release. The announcement comes just days after Apple CEO Tim Cook met with President Donald Trump on Feb. 20, and just weeks after Trump announced on Feb. 1 that he was imposing 10% tariffs on imports from China alongside 25% tariffs on imported goods from Mexico and Canada.
“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,” Cook stated in the press release. “From doubling our Advanced Manufacturing Fund, to building advanced technology in Texas, we’re thrilled to expand our support for American manufacturing. 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.”
Just one day after Trump held a meeting with Cook, the president said in a Feb. 21 speech that Apple would be shifting manufacturing to the U.S. from Mexico to avoid tariffs.
“They’re going to build here instead because they don’t want to pay the tariffs,” Trump said in the speech. “The tariffs are amazing.”
The Trump administration imposed the 25% tariffs on imported goods from Canada and Mexico alongside the tariffs on China in an attempt to combat the flow of illegal immigration and illicit drugs coming into the U.S. from the foreign countries. Trump agreed to halt the tariffs on Mexico and Canada for 30 days after the Mexican government vowed to send thousands of troops to the U.S.-Mexico border and Canadian Prime Minister Justin Trudeau promised to secure the northern border.
Notably, Apple relies heavily on China for manufacturing and sales, with the country accounting for 17% of the company’s sales in fiscal year 2024. Over 95% of Apple’s products are produced in China, according to TechNode.
Following tariff threats from Trump, Taiwan’s President Lai Ching-te said on Feb. 14 that his country would invest more money into the U.S. Meanwhile, Beijing reportedly started preparing to begin trade talks with the U.S. just days after the Trump administration announced the 10% tariffs on Chinese imports.
While on the campaign trail, Trump pledged to boost domestic manufacturing.
A spokesperson for Apple did not immediately respond to a request for comment.
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