&imwidth=800&imheight=600&format=webp&quality=medium "Amid Trump 100% tariff threat on semiconductors, chips; Apple commits $600 billion investment in US")
After US President Donald Trump announced on Wednesday the imposition of a 100% tariff on imported chips and semiconductors, Apple has committed to boosting its planned investment by an additional $100bn in the technology, bringing its total anticipated investment over the next four years to $600 billion.
While speaking at a ceremony in the Oval Office on Wednesday alongside Apple CEO Tim Cook, Trump credited the increased investment to his “America First” policy, which encourages domestic growth and manufacturing, according to a report by Al Jazeera.
He revealed, while addressing that Apple anticipates making an overall investment of $600bn over the next four years in the US. “This is the largest investment Apple has ever made in America and anywhere else. Apple has been an investor in other countries a little bit. I won’t say which ones, but a couple. And they’re coming home," Trump said.
Trump Emphasises Domestic Manufacturing
Trump has been advocating for prolonged domestic manufacturing in the tech sector and other industries, and he warned companies of heavy tariffs if they continue to operate overseas.
On Wednesday, he also announced that he would impose a tariff of approximately 100 percent on any imported chips and semiconductors entering the US. “We’re going to be putting a very large tariff on chips and semiconductors,” Trump explained.
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“But the good news for companies like Apple is — if you’re building in the United States or have committed to build, without question, in the United States — there will be no charge," he added.
Donald Trump said that those companies would be spared the import tax if they made computer chips in the US. Amid the COVID-19 pandemic, a shortage of computer chips heightened the price of autos and contributed to higher inflation.
