Washington DC [US], August 7 : Apple CEO Tim Cook presented a gift to Donald Trump before announcing an additional 100 billion USD in company investments in US manufacturing.
During the press conference at the White House on Wednesday (local time), Tim Cook presented a unique piece of glass engraved for President Trump with a 24-karat gold base.
The unique glass was made by an iPhone employee who is a former US Marine Corporal, said Tim Cook.
While presenting the gift to Donald Trump at the White House, Cook said, "This box was made in California, and this glass comes off the line. It's engraved for President Trump. It's a unique unit of one. It was designed by a US Marine Corps corporal, a former one who works at Apple now. Designed it for you. And the base comes from Utah and is 24-karat gold."
After presenting the gift, later in the press conference, Tim Cook announced a major push to expand Apple's manufacturing base in the United States, including a decision to exclusively use rare-earth magnets made in the country.
Cook stated that Apple will now source only American-made rare-earth magnets for its devices. These magnets will be developed by MP Materials, the only fully integrated rare-earth producer in the United States.
He stated, "This year alone, the American manufacturers are on track to make 19 billion chips for Apple in 24 factories across 12 different states. Second, we're committed to buying American-made and advanced rare-earth magnets developed by MP Materials, which will become part of Apple's devices shipped around the world."
With this partnership, MP Materials will significantly expand its flagship facility in Fort Worth, Texas. Apple also plans to collaborate on building a cutting-edge rare earth recycling line in Mountain Pass, California.
Apple's total investment commitment in the United States has now been raised to USD 600 billion over the next four years.
This includes an additional USD 100 billion announced on Wednesday (US time).
Earlier this year, the company had committed USD 500 billion and announced plans to hire 20,000 workers across the country over the same period.
The move is also seen as a strategic decision that could help Apple sidestep potential tariffs on iPhones and other products amid rising tariffs by the US President on imports to the US.
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