President Trump’s strategy to attract companies back to the states by imposing tariffs on foreign goods is bearing fruit, with tech giant Apple announcing a $500 billion investment, its largest ever in the U.S. The company plans to build a 250,000-square-foot manufacturing plant in Houston and set up an educational academy in Michigan is expected to create $20,000 jobs.
The president, who campaigned on luring the companies lost to bad foreign trade deals, announced 25% tariffs on all goods coming into the United States to bring manufacturing home and leverage countries to curb the flow of illegal immigrants and illicit drugs. The historic venture, which follows a meeting between Apple CEO Tim Cook and the President, was hailed as a “landmark” step in bringing back U.S. manufacturing.
“They're going to be spending a lot of money in the United States —more than they've ever spent by a factor of probably ten,” Trump said of Apple, the most valuable company in the world with a stock value exceeding $3 trillion. With the President arguing that companies building their products in the U.S. wouldn’t be subject to tariffs, Apple is looking to avoid billions in added costs.
Other investments announced by Trump in his first month in office include a $500 billion “Stargate” AI hub by Softbank, OpenAI, and Oracle, a $600 billion tech investment by Saudi Arabia, and a $20 billion data center commitment by Dubai’s DAMAC Properties. Taiwan, Nippon Steel, and Mercedes-Benz also plan major investments.
The investments are part of the President’s plan to bring about a “Golden Age” for America, a strategy that also includes cutting the cost of government, exerting energy dominance, and creating an External Revenue Service to focus on making money for the taxpayers. He proposed giving cash back to Americans through the savings unearthed by his new Department of Government Efficiency.