Trump reveals ‘Liberation Day’ tariffs throughout over 150 international locations

Shortly after saying sweeping reciprocal tariffs, President Trump touted the home investments from Huge Tech as firms like Apple (AAPL), Nvidia (NVDA), and others pledge billions to increase their respective footprints in the US.

“Apple goes to spend $500 billion. They by no means spent cash like that right here,” Trump mentioned, referencing the corporate’s plans to put money into its US operations over the subsequent 4 years, which is able to embrace plans to construct a brand new manufacturing manufacturing facility, double its superior manufacturing fund, and rent 20,000 individuals.

Trump added that Apple’s funding can be matched by Oracle (ORCL), ChatGPT creator OpenAI, and Japanese conglomerate SoftBank (9984.T) — a nod to the $500 billion ‘Stargate’ AI enterprise introduced earlier this yr.

On the time, Trump claimed the enterprise would create “over 100,000 American jobs nearly instantly.”

Plus, “Nvidia, a sizzling firm, is investing a whole lot of billions of {dollars}” into the US provide chain, Trump mentioned. And “TSMC — the largest and most vital firm on the earth of chips from Taiwan — with no funding from us, is investing $200 billion.”

TSMC (TSM) introduced final month that it plans to take a position an extra $100 billion in superior semiconductor manufacturing within the US. That is along with its ongoing $65 billion funding in its manufacturing operations in Phoenix, Ariz.

“They mentioned the explanation was No. 1, the election on Nov. 5. And No. 2, the tariffs,” Trump mentioned. “They do not need to pay the tariffs. And the best way they don’t seem to be paying it’s to construct their crops right here.”

Semiconductor shares dropped in after-hours buying and selling on the heels of Trump’s tackle, echoing the broader markets.