“In fact, Apple has no plans to build a plant in the United States.” —NYT
From Silicon Valley Warms to Trump After a Chilly Start posted Friday on NYT.com.
After Apple took advantage of the new tax law in January to bring back most of the $252 billion cash hoard that it had parked overseas, the company said it would make a $350 billion “contribution to the U.S. economy” over the next five years. That prompted Mr. Trump to suggest he had made good on a campaign pledge to get Apple to bring jobs back to the United States.
“You know, for $350 million, you could build a beautiful plant. But for $350 billion, they’re going to build a lot of plants,” the president told members of Congress last month. Mr. Trump said he had called Timothy D. Cook, Apple’s chief executive, to personally thank him.
In fact, Apple has no plans to build a plant in the United States. The company is uneasy with Mr. Trump’s invoking it to signify how his policies are working, according to a person close to Apple who was not authorized to speak publicly. Apple has not, however, publicly corrected the president.
I promised that my policies would allow companies like Apple to bring massive amounts of money back to the United States. Great to see Apple follow through as a result of TAX CUTS. Huge win for American workers and the USA! https://t.co/OwXVUyLOb1
— Donald J. Trump (@realDonaldTrump) January 17, 2018
My take: Between Washington, Cupertino and Beijing, something’s going on with Cook and Trump. The New York Times hasn’t got to the bottom of it. Neither have I.