Apple CEO Tim Cook announced a $100 billion increase in U.S. manufacturing investment at the White House with President Trump. The American Manufacturing Program will involve 10 new partners and expand domestic production of Apple components.

Trump criticized Apple’s intention to move iPhone production to India, prompting a 25% tariff on Indian goods using Russian oil. Apple’s $600 billion domestic investment pledge follows a recent $500 million deal with MP Materials to produce iPhone magnets in Texas.

Cook highlighted Apple’s U.S.-made components and plans for further expansion. The news of Apple’s increased U.S. investment caused its stock to rise by 5%, signaling investor confidence in Cook’s olive branch to the Trump administration. Despite the surge, Apple’s shares are down 15% this year due to AI challenges.

Read more at Yahoo Finance: Trump announces Apple investing another $100 billion in US manufacturing