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Home News US treasury secretary praises ‘manufacturing renaissance’ as Trump tariffs snap into effect – live updates
US treasury secretary praises ‘manufacturing renaissance’ as Trump tariffs snap into effect – live updates
Scott Bessent says things have ‘just gotten out of balance’ when asked about tariffs issued against key allies like South Korea, Japan, Australia, and the EU
Donald Trump on Wednesday celebrated a commitment by Apple to increase its investments in US manufacturing by an additional $100bn over the next four years.
Apple’s plan to up its domestic investment comes as it seeks to avoid Trump’s threatened tariffs, which would increase the tech giant’s costs as it relies on a complex international supply chain to produce its iPhones. Apple’s CEO, Tim Cook , warned during an earnings call in May that the tariffs could cost the company up to $900m that fiscal quarter alone. Continue reading...
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