Apple to increase Chinese investments amid US-China trade tension
Apple has pledged to increase its investment in China as tensions between Washington and Beijing rage on. CEO Tim Cook said on Wednesday that the tech giant told China’s industry minister, Li Lecheng, the iPhone maker will keep investing in China, according to an official summary of their meeting in Beijing released by the Chinese government. The r
eport gave no details of the size of the potential investment. Many US companies have become cautious about relations with China as the world’s two biggest economies clash over tariffs and as United States President Donald Trump seeks to promote manufacturing in the US rather than elsewhere. The California-based company, which has also made investment pledges to Washington, DC, has so far remained relatively unscathed by the trade war between the US and China. Other companies, such as Nvidia and Qualcomm, have found themselves the target of Chinese investigations. Washington has long placed sanctions on Chinese companies, such as Huawei. A Shanghai-based government affairs consultant, who requested anonymity because he was not authorised to speak with the media, said US companies are wary of angering a White House that could hurt them at home in the world’s biggest consumer market for appearing too pro-China, the Reuters news agency reported. At the same time, they are seeking to avoid appearing insincere in Beijing, where they have pledged to be “in China, for China”, he added. In August, Cook presented Trump with a custom US-made plaque mounted on a 24-carat gold stand commemorating Apple’s “American Manufacturing Program”, after saying it would invest an additional $100bn in domestic manufacturing.
