Apple to set up three big manufacturing plants in US

Jared Kushner Trump Tim Cook FBN

Jared Kushner Trump Tim Cook FBN

President Donald Trump told The Wall Street Journal Tuesday that Apple Inc.

The Journal quoted Trump as saying that Apple chief executive Tim Cook committed to building "three big plants", in the United States. "He called me, and he said they are going forward", Trump tells the WSJ, "he's promised me three big plants - big, big, big".

Cook said in February that Apple spent $50 billion in 2016 with its US suppliers.

Apple already has 80,000 employees in the USA and plans to hire thousands more in the future, according to Cook. This potential future factory won't be making Apple products, however, even if it does one day materialize.

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Whether or not the manufacturing plants will be owned by Apple or its suppliers, Trump will likely see it as a success for his administration. Apple isn't alone in this as many other companies tend to outsource production and manufacturing to China and India because labor is cheaper than back home, which means higher profit margins.

Mr. Cook also said the company planned to invest at least $1-billion (U.S.) to support advanced manufacturing companies in the United States.

Moving iPhone manufacturing to the USA would also likely push up costs which can not be in Apple's interests. Arguments over unfair, low labor costs in China are great for an optimistic sound-bite, but in reality, companies typically prefer higher profits, choosing to switch production to other affordable countries rather than back to the U.S. Foxconn hasn't followed through on previous pledges to invest millions of dollars to create U.S.jobs.

Provided that this is true, it doesn't appear like Trump thinks about the qualification, as long as he can state Apple is ending up plainly more required in U.S. producing. An USA Today story from earlier this week said that Foxconn is close to announcing a major plant project for Wisconsin that would come with huge incentives including tax breaks for the company.

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