Trump unveils Apple's $600 billion US investment

President Donald Trump and Apple CEO Tim Cook announced on Wednesday that Apple will be investing $600 billion in the United States over the next four years. The announcement comes as Apple has increased its original U.S. investment plan by $100 billion under the Trump administration.

Announcing Apple’s massive investment in its U.S. operations during an event at the White House on Wednesday, Trump said, “Today Apple is announcing that it will invest $600 billion—that’s with a B—in the United States over the next four years. That’s $100 billion more than they were originally going to invest.”

Trump explained that Apple’s $600 billion investment is the largest financial investment that Apple has ever made in the United States or anywhere else in the world. The president said that while Apple has “been an investor in other countries a little bit,” the company is “coming home” to the United States under his administration.

In a Wednesday press release, Cook said, “Today, we’re proud to increase our investments across the United States to $600 billion over four years and launch our new American Manufacturing Program. This includes new and expanded work with 10 companies across America. They produce components that are used in Apple products sold all over the world, and we’re grateful to the President for his support.”

In Wednesday’s press release, Apple explained that the American Manufacturing Program will provide funding for a “major expansion” of the company’s partnership with Corning. Apple announced that the funding will result in every iPhone and Apple Watch being produced with Kentucky-made glass and the establishment of a new Apple-Corning Innovation Center in Kentucky.

“Apple will massively increase spending on its domestic supply chain for the iPhone, and will build the largest and most sophisticated smart glass production line in the world,” Trump announced on Wednesday.

According to Apple, the technology company currently manufactures products in 79 U.S. facilities and supports more than 450,000 jobs through its partnerships with suppliers in all 50 states. Apple confirmed on Wednesday that it is planning to hire 20,000 additional employees over the next four years as the company expands operations in the United States under the Trump administration. 

During Wednesday’s announcement at the White House, Trump claimed that Apple’s $600 billion investment in the United States is part of over $17 trillion that is “coming into the United States.” Trump added, “There’s never been anything like it.”