Trump, Apple Announced Fresh $100 Billion US Investment

Watch Bloomberg Businessweek Daily every day on YouTube: http://bit.ly/3vTiACF.President Donald Trump announced that Apple Inc. will commit to spending another $100 billion on domestic manufacturing, the latest pledge by the tech giant to increase US production of its products as it seeks to avoid punishing tariffs on its flagship iPhones.The announcement at the White House on Wednesday included a new manufacturing program designed to bring more of Apple’s supply chain to the US, with an eye toward assembling additional critical components domestically, according to a White House official who detailed the announcement on the condition of anonymity. Apple Chief Executive Officer Tim Cook attended the event. The company had previously announced it plans to spend $500 billion in the US over the next four years, which will include work on a new server manufacturing facility in Houston, a supplier academy in Michigan and additional spending with its existing suppliers in the country. Wednesday’s announcement brings Apple’s cumulative commitment to $600 billion, the White House said.Today's show features: Bloomberg News Managing Editor for Global Consumer Tech Mark Gurman on Apple’s $100 billion US investment and Tim Cook’s visit to the White House Bloomberg Intelligence Global Equity Strategist Associate Gillian Wolff on her latest market research Bloomberg Intelligence Senior Media Analyst Geetha Ranganathan on Disney’s quarterly earnings report Amy Rubenstein, CEO of Clear Investment Group, on the distressed real estate market See omnystudio.com/listener for privacy information.

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