Two quick updates to a couple of stories from this morning involving Apple, the Trump administration, and increased India tariffs. First, CNBC reports that the $100 billion U.S. investment increase (over four years) announcement is currently scheduled for 4:30 ET today.
Apple CEO Tim Cook is expected to appear alongside President Trump at what is said to be a televised event out of the Oval Office at the White House.
It’s no coincidence that Apple will reportedly be “largely unaffected” by the Trump administration’s latest executive order to increase tariffs on goods imported into the United States from India. That’s also according to CNBC, citing White House sources. The news won’t come as a surprise.
As we noted this morning, Wall Street is already rewarding Apple for its timely investment increase announcement. What could have been an expensive day for Apple due to tariffs is instead amounting to $25 billion in U.S. manufacturing investments to some degree annually for the next four years. Meanwhile, Apple stock is up more than 5% during intraday trading.
We’ll bring you the full details of whatever Apple shares as soon as the announcement occurs later today.
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