Apple, facing tariffs on Chinese imports, says it will invest $500 billion in US facilities

Apple said Monday it will invest $500 billion on expanding US facilities over the next four years, a move that could help it avoid new tariffs on goods imported from China. Apple said the investment will create 20,000 jobs.

Earlier this month, President Donald Trump announced tariffs of 10% on all imports from China, from which Apple imports many products, including most of its iPhones. Trump signaled Friday that the company was planning to make this investment following a meeting with Apple CEO Tim Cook on Thursday. Trump attributed the investment to his tariffs.

“He’s investing hundreds of billions of dollars, I hope he’s announced it,” Trump said. “That’s what he told me … But he’s investing hundreds of billions of dollars. And others, too, a lot of chip makers coming in, a lot of automakers coming in.”

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