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Apple's latest message to Trump: We're buying American magnets
Business Insiderยท2025-07-15 14:52

American manufacturing is getting a half-billion-dollar boost from Apple. The Cupertino-based iPhone maker said Tuesday it has reached a $500 million deal with MP Materials to buy US-made rare earth magnets."Rare earth materials are essential for making advanced technology, and this partnership will help strengthen the supply of these vital materials here in the United States," Apple CEO Tim Cook said in a statement. Rare earths are used in the production of high-powered magnets that enable a wide range o ...