President Donald Trump announced on Monday that he spoke with Apple CEO Tim Cook following a temporary agreement between the U.S. and China to suspend most tariffs for 90 days. The announcement, which aimed to ease tensions in the ongoing trade war, was met with positive reactions from Wall Street. Apple’s stock surged by 6%, outperforming the broader Nasdaq, which rose 4% on the day.
Trump Highlights Apple’s $500 Billion Pledge, But Tariff Relief Remains Limited for Now
During his comments in the Oval Office, Trump highlighted Apple’s previous commitment to invest \$500 billion in the United States. He suggested that Tim Cook might further increase this investment, particularly in domestic manufacturing. Apple had earlier mentioned in February that this investment would include expanding U.S. operations, such as setting up AI server facilities in Houston.
Apple Shares Soar After Trump Talks Tariff Truce and $500B Investment With CEO Tim CookWhile the tariff truce is a positive move for Apple, its immediate impact remains unclear. Apple still faces 10% tariffs on some products manufactured in countries like India and Vietnam. Although some key products are exempt from the highest tariffs, a 30% rate continues to apply to other Chinese imports. Despite the partial relief, the company still faces a complex global trade situation.
Apple Pressured to Move Manufacturing to U.S. Amid Ongoing Trade War Uncertainty
The Trump administration has long pressured Apple to relocate iPhone and other device manufacturing to the U.S., a move that analysts say would be both challenging and costly. Bringing large-scale tech production to the U.S. would involve massive infrastructure changes and potentially raise product prices for consumers.
Apple CEO Tim Cook addressed the tariff issues earlier this month during an investor call, stating that the company has already begun sourcing some U.S.-bound products from Vietnam and India. However, he emphasized the unpredictable nature of the trade situation and avoided making forecasts beyond June. Apple declined to comment further on Monday’s developments, reflecting a cautious approach amid ongoing uncertainty.
