President Donald Trump has put pressure on Apple to manufacture iPhones and other products in the United States. Currently, the vast majority of Apple products are assembled in Asia.
Apple isn’t going to build iPhones stateside yet, but on Wednesday CEO Tim Cook announced that Apple plans to create a $US1 billion fund to support advanced manufacturing in the united states.
“We asked ourselves, ‘How can we get more people to do advanced manufacturing in the United States?’ And I’m proud to tell you that we’re creating an advanced manufacturing fund. We’re initially putting $US1 billion in the fund,” Cook told CNBC’s Jim Cramer.
Apple plans to announce the first investment in the fund later this month, Cook said.
“We’re really proud to do it. And by doing that, we can be the ripple in the pond. Because if we can create many manufacturing jobs around — those manufacturing jobs create more jobs around them, because you have a service industry that builds up around them,” Cook said.
Trump repeatedly talked about Apple while he was running for president, and at one point called for a boycott of the company. Cook was a Hillary Clinton supporter and held a fundraiser for her in August 2016.
While Cook did not address Trump by name during his interview on CNBC, he did address his perspective on engaging with government.
“You know, my view on working with any government in the world is that there are things that you will agree upon and things that you will not. And you don’t want to let the things you don’t mean that you don’t have any interface,” Cook said.
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