Trump Says Apple Shifting to US Plants, With Specifics Unclear

Published Feb 21, 2025

(Bloomberg) — President Donald Trump told a gathering of governors that Apple Inc. Chief Executive Officer Tim Cook plans to shift manufacturing from Mexico to the US, a move that the iPhone maker hasn’t publicly discussed.

Cook “stopped two plants in Mexico” and will build products in the US instead, Trump said on Friday, describing a meeting with the CEO at the White House the prior day. The president also said that Cook promised hundreds of millions of dollars in US investment.

“They don’t want to be in the tariffs,” Trump said.

It’s not clear what manufacturing facilities Trump was referencing, but Apple partner Foxconn Technology Group has a large manufacturing presence in Mexico and has announced plans to expand its footprint there. Foxconn manufactures the iPhone in Asia, and Apple relies most heavily on China for production.

Trump told reporters later Friday that he and Cook met at length.

“He’s going to start building,” Trump said. “Very big numbers — you have to speak to him. I assume they’re going to announce it at some point.”

A representative for Apple didn’t respond to a request for comment.

Cook is among the tech industry leaders who have sought to nurture a close relationship with the president since his reelection, attending his inauguration last month and traveling to his Mar-a-Lago estate in Florida during the presidential transition.

Cook’s company risks being caught in the middle of an escalating trade fight between the US and China, with Trump’s 10% tariff on Chinese-made goods posing a challenge for Apple as it seeks to address sluggish iPhone sales. China is weighing a probe into Apple’s policies and the fees it charges app developers. China is Apple’s biggest manufacturing hub, while the US is its largest market.

Source:Trump Says Apple Shifting to US Plants, With Specifics Unclear | Financial Post