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Adversity temporarily visits a strong man but stays with the weak for a lifetime. -
Note: This is the fate that awaits Canada should the tariffs come to be.
Apple, facing tariffs on Chinese imports, says it will invest $500 billion in US facilities
Apple said Monday it will invest $500 billion on expanding US facilities over the next four years, a move that could help it avoid new tariffs on goods imported from China.
Apple said the investment will create 20,000 jobs.
Earlier this month, President Donald Trump announced tariffs of 10% on all imports from China, from which Apple imports many products, including most of its iPhones. Trump signaled Friday that the company was planning to make this investment following a meeting with Apple CEO Tim Cook on Thursday. Trump attributed the investment to his tariffs.
“He’s investing hundreds of billions of dollars, I hope he’s announced it,” Trump said. “That’s what he told me … But he’s investing hundreds of billions of dollars. And others, too, a lot of chip makers coming in, a lot of automakers coming in.”
However, the investment builds on Apple’s previous efforts to expand its supply chain outside of China in recent years, partly in response to production issues in China during the pandemic. Those investments include growing production for Mac Pro computers in Texas.
TSMC, which makes chips for Apple, has also recently opened chipmaking plant in Arizona, helped by $6.6 billion in support from a bipartisan bill passed during the Biden administration to encourage investment in US chip manufacturing. However, Apple has mostly expanded production in places like India and Vietnam.
Adversity temporarily visits a strong man but stays with the weak for a lifetime.Comment
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Americans love this. Liberals hate it. For those of you counting, that's half trillion dollars. This may be the largest investment ever. Go Trump. All credit to Trump and his tariffs.Adversity temporarily visits a strong man but stays with the weak for a lifetime.Comment
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"- How much incremental new spending does the $500 billion represent? For context, not long after Biden’s presidency began in 2021 — notice the timing — Apple committed $430 billion in U.S. spending across five years, so 2025 is presumably included in both pledges. That makes the math fuzzier. We should not forget, either, that inflation since April 2021 has totaled 18.8%, so that annualized number is a lot lower than it looks, especially with the 2025 overlap.
- How much of the $430 billion pledge announced in 2021 was actually spent? It would be great to see a breakdown of that spending, but as far as I know there isn’t one available for public consumption. The same applies to Apple’s January 2018 pledge to invest $350 billion in the U.S. spread across five years. I think you see the trend."
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US consumers cut spending in January more drastically than at any point in the last four years
Welcome to the Trump Administration recessionComment
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No Last-Minute Deal for Canada and Mexico to Avoid Tariffs, Trump Says Sweeping 25 percent tariffs on Canada and Mexico will start tomorrow, President Trump said in White House remarks. Products from China will face an additional 10 percent tariff.
The layoffs start soon
Make America Suck Again
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Dow falls 800 points as Trump’s tariffs threaten a dangerous trade warComment
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JOB CUTS: U.S.-based employers cut more jobs last month than in any February in 16 years, according to a new report.Comment
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Private companies added just 77,000 new workers for the month, well off the upwardly revised 186,000 in January and below the 148,000 estimate, ADP reported.
Yep Trump effectComment
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Canada has blocked imports from the biggest U.S. pork processing plant, a facility run by Smithfield Foods in Tar Heel, North Carolina, the company said on Friday.
I wonder how many jobs will be lostComment
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General Mills announces multiple shutdowns and layoffs General Mills announced it is closing G-Works, the company's innovation unit, and halting all new investments by 301 Inc., its venture capital arm, to pursue new growth initiatives.
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Stock market today: Nasdaq, S&P 500 lead losses as market sell-off acceleratesComment
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BREAKING: Leader of Canada's Conservative Party throws down the gauntlet to Donald Trump over his disastrous tariffs, says that he "stabbed America's best friend in the back" and will soon pay the price. This is Canada's version of Donald Trump and he's furious. Our northern neighbor is now united in bipartisan rage...
"At 12:01 A.M. President Trump stabbed America's best friend in the back," said right-wing leader Pierre Poilievre. "My message to the president is this: Canada will fight back. We will defend our people and our economy and we will put Canada first."
Earlier today, Trump implemented 25% tariffs on Canada and Mexico. The stock market is plummeting and prices are already skyrocketing.
"There is no doubt that our economy will suffer but so will yours President Trump," continued Poilievre. "In fact, you're already paying the price with trillions of dollars erased in stock market value over the last month of these threats."
"Already Americans are paying higher gas prices as at midnight a new American gas tax kicked in on U.S. working class taxpayers and motorists," he continued.
"Your workers will soon start losing jobs, jobs they had upgrading Canadian raw materials — which by the way you were getting at an incredible and ridiculous bargain — and your businesses will be selling fewer products to your closest neighbor," he went on.
"And that's only the beginning. While Canadians are slow to anger and quick to forgive, once provoked we fight back. And we will fight back," said Poilievre.
Donald Trump promised us a Golden Age. Instead, he's forcing us into a new Dark Age. Unless these tariffs are rescinded immediately, a crushing economic recession is all but guaranteed.
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