Overview

• Cook presented Trump with a U.S.-made glass plaque set on a 24-karat gold base before securing the full exemption from the proposed 100% semiconductor tariff.
• The additional $100 billion raises Apple’s domestic investment to $600 billion over four years under its American Manufacturing Program and pledges to directly create 20,000 U.S. jobs.
• Apple will relocate all iPhone and Apple Watch cover glass production to Kentucky under an expanded Corning partnership first revealed in 2021.
• The White House cautioned that companies that do not fulfill their U.S. manufacturing commitments could face retroactive duties on prior imports.
• Apple shares surged 13% this week, marking the largest weekly gain since July 2020 as investors welcomed the tariff relief and expanded domestic spending.