Following a temporary pause in US-China tariffs, President Donald Trump said he spoke with Apple CEO Tim Cook signaling more Apple investment in the US.
Speaking from the Oval Office, Trump claimed that he spoke to Cook. “He’s going to, I think, even up his numbers… $500 billion, he’s going to be building a lot of plants in the United States for Apple.” Apple previously announced plans to spend that amount on expanding its US footprint, including AI server assembly in Houston.
According to a report by CNBC, the pause in new tariffs sparked a stock rally: Apple shares rose 6% on Monday, outpacing the Nasdaq’s 4% climb. Investors welcomed the cooling of trade tensions, as Apple relies heavily on China for manufacturing and counts it as a major sales market.
Still, Apple’s tariff troubles aren’t over. While key products like iPhones and Macs got exemptions from April’s steep 145% tariffs, others still face up to 30% duties. Even after the new 90-day deal, secondary production hubs like Vietnam and India remain subject to 10% tariffs on certain imports.
Trump has long pushed Apple to move iPhone manufacturing to the US, a move analysts say would be technically challenging and cost-prohibitive. For now, Apple continues to diversify its supply chain. CEO Tim Cook recently told investors that products bound for the US are increasingly being sourced from India and Vietnam, but said the tariff environment remains “difficult to predict.”
Apple declined to comment on Trump’s latest remarks. The company is expected to update its plans depending on how trade negotiations evolve beyond the June deadline.
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