Trump Announces Upcoming Significant Semiconductor Tariff, Potential Exemption for Apple Discussed
Tech Giants Pledge Billions in US Investments at White House Dinner
The US President hosted a dinner with tech executives at the White House on Thursday, with the focus on investments in the US economy by tech companies. Among those in attendance were Microsoft co-founder Bill Gates, Meta CEO Mark Zuckerberg, Apple CEO Tim Cook, OpenAI CEO Sam Altman, and Google co-founder Sergey Brin.
During the dinner, tech executives were asked about their investments in the country. Mark Zuckerberg, Tim Cook, and Sundar Pichai (Google CEO) announced their respective companies' intentions to invest $600 billion, $250 billion, and an unspecified annual amount of $80 billion in the US economy.
Apple pledged to make an additional $100 billion investment in domestic manufacturing in August, while Microsoft pledged an unspecified annual investment of $80 billion in the US economy. No further details were provided about the specifics of these investments.
Trump expressed satisfaction with the investment plans announced by Apple, Google, and Meta, specifically mentioning Apple CEO Tim Cook and stating that he would be "in pretty good shape" regarding the new levies. However, he also mentioned that "We'll be putting tariffs on companies that aren't coming in."
The US President also stated that companies relocating their manufacturing to the US could see their products exempted from the next levy. He warned about the impending tariffs on semiconductor imports, mentioning the possibility of imposing "fairly substantial" tariffs on these imports.
Elon Musk, a former ally of Trump and a key figure in the Department of Government Efficiency, was not present at the dinner due to a fallout with Trump over US budget policy. Sam Altman, a rival of Elon Musk in artificial intelligence and the representative of OpenAI at the dinner, was present.
The trade war or impending tariffs on semiconductor imports were not discussed in this paragraph. No further details about the tariffs or investments were provided in the dinner's discussion.
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