Apple and President Donald Trump are set to announce a $100 billion spending investment for domestic manufacturing, Bloomberg was first to report.
“President Trump’s America First economic agenda has secured trillions of dollars in investments that support American jobs and bolster American businesses,” White House spokesperson Taylor Rogers said in a statement.
The announcement will take place in the Oval Office at 4:30 p.m., a source told CNBC. The total commitment will be $600 billion over four years, the outlet noted.
A source told Bloomberg that the announcement will include a new manufacturing program to bring some of the supply chain and assembly to the U.S.
Tim Cook, Apple’s CEO, is expected to attend the event.
“Today’s announcement with Apple is another win for our manufacturing industry that will simultaneously help reshore the production of critical components to protect America’s economic and national security,” Rogers continued.
Related: Mars Says 94% of Its Products Sold in the U.S. are Now Made There, Too
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