Apple is alleged to be growing its funding in US manufacturing by one other $100 billion, per an settlement touted by the White Home.

In an announcement deliberate for 4:30 p.m. ET on Aug. 6, President Donald Trump is ready to unveil the creation of American Manufacturing Program. It will likely be a part of an settlement that may elevate the US manufacturing investments from world’s high tech firm from $500 billion, as beforehand announced, to $600 billion over the following 4 years. Apple mentioned in February it was additionally planning to rent 20,000 US employees over that point interval.

The rise was first reported by Bloomberg and the announcement is rumored to occur at an occasion attended by Apple CEO Tim Cook dinner. Representatives for Apple and the White Home didn’t instantly reply to requests for remark.

Apple has been shifting the way in which it produces its merchandise this yr in response to the steep tariffs in opposition to international locations the place it does manufacturing of most of its flagship merchandise equivalent to iPhones. Whereas Apple and different main expertise corporations do not make smartphones within the US, some meeting of merchandise utilizing elements made abroad may be executed within the US.

The corporate has moved some manufacturing from China to international locations together with India and Vietnam to bypass tariffs and to cut back its reliance on China’s in depth manufacturing provide chains. Smartphone makers have been going through tariffs as steep as 25 percent and Apple is attempting to keep away from steep worth hikes on its merchandise. The corporate is gearing up for the launch of the iPhone 17 in September.