Apple to give $1 billion boost to U.S. manufacturing

Tim Cook says Apple will invest $1 billion to boost U.S. manufacturing.

The world’s most valuable company, which makes most of its products in China, will help “advanced manufacturing jobs” in the United States, the Apple CEO told Jim Cramer on CNBC’s “Mad Money” Wednesday.

Apple has been criticized by President Trump for manufacturing its products outside the United States. During his campaign, Trump called on the Silicon Valley tech giant to make its “damn computers” in this country.

After Trump became president, he said he talked to Cook about Apple opening U.S. manufacturing plants, and that he promised him tax incentives to do so.

What Cook is offering instead is that Apple will announce its first manufacturing-related investment in a yet-to-be-named company later this month.

“By doing that, we can be the ripple in the pond,” Cook told CNBC. “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 has said that Apple makes its products in China because that country has “skill” that comes from its focus on manufacturing.

Advanced manufacturing is defined by different people in different ways, but in general it means the use of new technology to improve the manufacturing process.

Apple’s move comes amid a rush by companies to respond to Trump’s constant call to bring manufacturing jobs to this country — some companies have announced new, or sometimes almost new, jobs alongside the president in recent months.

Apple also launched a new website that highlights how many jobs it has contributed to the United States, putting in one place its regular talking points about its economic benefit to this country. It says it is “responsible” for 2 million jobs in all 50 states.

 

 

Photo: Apple CEO Tim Cook speaks at a product launch event on March 21, 2016, at Apple headquarters in Cupertino, Calif. (Karl Mondon/Bay Area News Group)

 

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  • Old Time Hockey Fan

    The Trump effect strikes again!!
    Awesome

 
 
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