Trade war bad except when it’s good, right? And the feds give you a few incentives. Like a break on tariffs for a few parts that are manufactured in China. If you expand manufacturing in the US and add 10,000 Jobs. Sounds like a deal and it is.
Apple has decided to build Mac Book Pros in Texas. And hey, Apple wants you to know that’s all they’re doing.
Apple is on track to fulfill its commitment to invest $350 billion in the US economy by 2023. Last year alone, the company spent over $60 billion with more than 9,000 domestic suppliers across the country, including at manufacturing locations in 36 states. Apple’s investment in innovation supports 2.4 million jobs in all 50 states, including 90,000 direct employees. Last week, Apple announced it is awarding $250 million from its Advanced Manufacturing Fund to Corning Incorporated, supplier of precision glass for iPhone, Apple Watch and iPad. To date, Apple has invested over $1 billion in American companies from its Advanced Manufacturing Fund — deploying the entire $1 billion initial investment and 20 percent of the $5 billion it subsequently committed to spend. In December, Apple announced plans to expand its presence in Austin and a dozen other cities across the country, including San Diego and Seattle.
As for the tariff exemptions,
The Office of the U.S. Trade Representative approved 10 of those exemptions. This includes “partially assembled main circuit boards and graphics cards, which contain expensive chips from Intel, Nvidia and Advanced Micro Devices.”
Apple CEO Tim Cook stated that the majority of components will come “from 36 states, supporting 450,000 jobs with US suppliers.” He also vowed “to continue growing here.”
These changes on tariffs from China will benefit any business in the US using similar components. With the added bonus of moving job and manufacturing back to the United States.
Which is what Mr. Trump promised.