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Trump says he called Apple’s Cook to thank him for investments

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Published: 11:12 GMT, Jan 19, 2018 |
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Trump says he called Apple’s Cook

President Donald Trump said Jan 18 that he called Apple Inc chief executive officer Tim Cook to thank him for announcing hundreds of billions of dollars in US investments following passage of Republican tax legislation last year.

Apple said Wednesday it would return hundreds of billions of dollars to the US from overseas, pay a US$38bil (RM149.62bil) tax bill on that money and invest about US$350bil (RM1.37tril) in its domestic operations over the next five years. The company plans capital expenditures of about US$30bil (RM118.12bil) and will create about 20,000 new jobs at existing sites and a new campus.

“When I heard the news yesterday – and Tim Cook is a great guy, the head of Apple – when I heard the news, I heard $350 billion and I said, ‘you mean US$350 million, that is going to be a beautiful plant,’ and they said ‘no,’ they said ‘it is US$350 billion,”’ Trump said in a speech at a factory in Coraopolis, Pennsylvania, a Pittsburgh suburb. “I just called Tim Cook and thanked him, but I don’t imagine there has ever been an investment that big in our country by a company.”

Apple shares were mostly unchanged on Jan 18 after closing Wednesday at a record high, US$179.10 (RM705.21).

In an email to Apple staff, Cook criticised President Trump for blaming “both sides” for violence at the rally.

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