Trump announced "a very large tariff on chips and semiconductors," but said that companies investing in the U.S. like Apple would be exempted.

Apple commits an additional $100 billion to US manufacturing, raising its total to $600 billion over four years in a bid to ease tariffs and boost local production.

By Andrea Shalal, Nandita Bose and Arsheeya Bajwa WASHINGTON (Reuters) -President Donald Trump announced on Wednesday that Apple will invest an additional $100 billion in the United States, a move which will expand the company's domestic investment commitment and could help it sidestep potential tariffs on iPhones.