Tim Cook to join Trump for Apple investment announcement

Apple CEO Tim Cook will join President Donald Trump on Wednesday for an event called a new $ 100 billion investment commitment by the Technology Giant in the USA.

The announcement in the Oval Office, the announcement for 16:30 meat includes Apple’s commitment to a new “American Production Program”, a White House official approved to CNBC.

Authorized, Apple’s total investment in the United States for the next four years is a total of 600 billion dollars, he said.

Bloomberg He first reported Apple’s new investment pledge early on Wednesday.

The meeting is coming because Trump pushes Apple to make its products in America – a success that experts say the prices will increase hundreds of dollars, if it can be done.

Most of Apple’s flagship iPhones are produced in China, but carry some of the company production to India.

Trump complained about this plan. “We are not interested in building in India, India can look at them … We want you to build it here.” He said.

On Wednesday, Trump announced that it would double the US tariff rate in Indian goods to 50%. Trump said India increased the tariff because it continued to buy Russian oil.

In early April, Trump exempt smart phones, chips and other technology products from the “mutual” tariff plan, which slapped a 10% basic task to the world and set significant higher rates for dozens of individual countries.

This exemption was still implemented as of this week after Trump’s order of execution, which changed US tariffs in a series of countries.

And it seems that Trump remains intact in his final order, which increases the import tariffs from India.

Apple rejected CNBC’s request for comments.

– Steve Kovach from CNBC contributed to this report.