Trump claims Apple will build ‘a lot of plants’ in US with $500B pledge

Apple’s stock is having a good day following word of a US-China trade agreement in the works, and temporary pauses on most tariffs. President Trump called Apple CEO Tim Cook to discuss the news, per CNBC, here’s what he shared with reporters afterwards. Kif Leswing writes at CNBC: “I spoke to Tim Cook this morning, and he’s going to, I think, even up his numbers,” Trump said in the Oval Office. ”$500 billion, he’s going to be building a lot of plants in the United States for Apple. And we look forward to that.” Apple previously said in February it would spend $500 billion to expand many of its operations in the U.S., including assembling artificial intelligence servers in Houston. It’s not very clear what the first part of Trump’s statement—“even up his numbers”—was referring to. It may have been a reference to Apple moving to reduce its dependence on China for manufacturing of the iPhone and other products. Perhaps it’s simply referring to the China tariff pause helping Apple out ... Read full article.