This week, The Wall Street Journal claimed that the President of the U.S., Donald Trump, stated that Apple has pledged to increase the production at home with 3 new plants in the U.S.
The journal cited Trump claiming that Tim Cook, Chief Executive of Apple, promised to build “3 big facilities,” in the U.S. No information was given, and Apple did not react to any request from the media for comments. In May, Cook declared the making of an Apple fund to get more individuals in the U.S. to do “enhanced production,” starting it off with $1 Billion. Apple constructing plants in the U.S. would come as exceptional common base with Trump.
Cook has highlighted out that Apple invested over $50 Billion in the U.S in 2016. It did this by purchasing from providers such as Corning Glass and operating with coders behind apps for the devices of the California-based company. Apple has almost 80,000 workers in the U.S. and aims to employ more thousands of them in the coming period, as per Cook.
It is a symbol of success of Apple but also a prickly issue. This issue contains a stockpile of cash topping on quarter earnings of a $1 Trillion, indicating a debate on what do with such huge treasury. The tech major has opposed the thought of taking the cash home. This is due to the fact that the U.S. tax code permits multinational companies to postpone profits while they are detained out of the country. But, on the other hand, income from taxes is up to 35% when sent back.
Trump promised while campaigning that he will push Apple to bring manufacturing to the soil of the U.S. Apple is not in the similar position since automakers repositioned the U.S. companies abroad to cut prices. Apple never shifted jobs out of the country; it created them in the country. “Apple jobs were never present here,” Panzica claimed to the media. “The whole chain of supply developed in China,” Panzica further added.
Apple profits in Asia from a system that goes further than subcontractors assembling tablets, smartphones, or laptops.