Reference News Network, August 8 report. According to the Associated Press, Washington, August 6. On Wednesday, Apple's CEO Tim Cook announced with President Trump at the White House that the tech company has committed to an additional $100 billion investment in U.S. manufacturing over the next four years.

Trump said during a press conference: "This is an important step toward the ultimate goal of ensuring that iPhones sold in the United States are also made in the United States." He added: "Today's statement is one of the largest commitments in the greatest wave of investment in our country's history."

Apple's investments will be used to bring more supply chains and advanced manufacturing into the United States, which is part of the "Made in America" initiative. However, this does not mean that Apple has promised to produce its popular iPhones entirely within the United States.

Cook said in his statement announcing the investment: "This includes new partnerships with 10 companies across the United States and expanding existing partnerships. The components they produce are used in Apple products sold globally, including semiconductor chips, and we appreciate the president's support."

Its new manufacturing partners include companies such as Corning, Texas Instruments, and Broadcom.

Apple previously stated plans to invest $50 billion domestically, and now this figure has increased to $60 billion. In recent months, Trump has been criticizing Apple and Cook for moving iPhone production to India, claiming the move aims to avoid tariffs planned by the government on China.

The latest news about Apple's investment in the U.S. caused its stock to surge 5% during midday trading on Wednesday.

Nancy Tengle, CEO of the asset management company Laffer-Tenner Investments, which holds Apple stock, said the rise reflected investors' relief at Cook "reaching out to the Trump administration."

August 6, Trump (left) looks toward Apple's CEO Tim Cook during a speech at the White House. (AP)

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