Around the world, politicians are fixated on factories. But this obsession with factories is built on myths—and will be self-defeating https://t.co/CxJ9QRGAlz ...

This afternoon. We're pleased to welcome to the White House one of the great and most esteemed business leaders and geniuses and innovators anywhere in the world, Apple CEO Tim Cook. Amazing job.Thanks as well to Secretary of the Treasury Scott Bessant and Secretary of Commerce Howard Lutnick for being here. Wherever you may be in New York, fellas, I missed you. Today, Apple is announcing that it will invest $600 billion just with a B in the United States over the next four years.That's $100 billion more th ...

Investment & Manufacturing Commitment - Apple commits an additional $100 billion to the US, bringing the total US investment to $600 billion over the next four years [4] - Apple is launching an American manufacturing program to spur more production in America for critical components [5] - American manufacturers are on track to make 19 billion chips for Apple in 24 factories across 12 states this year [8] Supply Chain Localization - Apple is leading the creation of an end-to-end silicon supply chain in America, working with manufacturers like Texas Instruments, Global Wafers America, and Applied Materials [6] - Apple will use American-made advanced rare earth magnets developed by MP Materials in its devices [8] - Every new iPhone and Apple Watch sold globally will contain cover glass made in Kentucky [9] Expansion & Partnerships - Apple has signed new agreements with 10 companies across America [5] - Apple is expanding data center capacity in North Carolina, Nevada, Iowa, Arizona, and Oregon [10] - Apple is partnering with Corning in Kentucky to build the world's largest and most advanced smartphone glass production line [9]

It's a big number in isolation, sort of, but it's also got to be taken in aggregate. Absolutely. Look, Apple spends a lot on these types of initiatives all the time.They have already been planning to spend hundreds of billions of dollars in the coming years. The Trump administration likes big, round, big honking numbers. Right.And this is a way for them to say we've scored a victory. We are bringing manufacturing back to the United States on Apple's part, making these pledges, throwing these numbers out the ...

Watch live coverage as President Trump holds a White House event for Apple’s commitment to a new investment in American manufacturing. Apple CEO Tim Cook is expected to join the president for the announcement. For more context and news coverage of the most important stories of our day, click here: https://www.nbcnews.com » Subscribe to NBC News: http://nbcnews.to/SubscribeToNBC » Watch more NBC video: http://bit.ly/MoreNBCNews NBC News Digital is a collection of innovative and powerful news brands that deli ...

Welcome back to Squawkbox. We are in Aspen, Colorado this morning with two former Treasury Secretaries uh who are uh the co-chairs of the Aspen Economic Group. Good morning to you.Hank Pollson is here. Tim Gner is here. Uh we just spoke to the president.Lots of questions about where our economy is today, what's going on with the tariffs, how you think about all this geopolitically, treasuries and everything. Um geopolitics, China. So I want to get to as much of this as we can.I just want to start though wit ...

"China is a powerhouse of building.. they can manufacture everything and anything under the sun faster than anyone else in the world, and that's a superpower they have."- @larsmoravy https://t.co/EsAIjCfAHN ...

Economic Indicators & Job Market - The White House acknowledges that recent job numbers were not as strong as expected, attributing downward revisions to statistical quirks like seasonal adjustments, with approximately 60% due to changing seasonal factors [2][3][4][5] - The report indicates a softening in the labor market, with potential contributions from border policies and uncertainty surrounding immigration policies affecting hiring decisions [6][9][10] - There's a modest decline in manufacturing employment and a more significant decline in manufacturing activity, raising concerns about the economy not delivering on promises of increased manufacturing and manufacturing jobs [11] Trade Policies & Tariffs - The original promise of 90 trade deals in 90 days was not met, with only 8 to 10 negotiated frameworks achieved, while some countries may receive extensions or return to the negotiating table [13][15] - Markets have become accustomed to tariff rates of 10%, with many countries facing rates closer to 15% to 20%, a significant increase from the previous rate of approximately 25% [18][19] - The tariffs have generated approximately $100 billion in revenue, but their effectiveness in creating jobs and boosting manufacturing in the US remains unproven [20] - The president's approach faces an inherent contradiction: high revenue collection implies continued imports, while successful relocation of production to the US would reduce imports and revenue [21][22] Legal & Political Challenges - The legality of the tariffs is being questioned, with potential challenges leading to a Supreme Court review that could take months or even a year to resolve [28] - If deemed unconstitutional, the US would no longer be able to collect the tariffs, though it's unclear if past tariffs would be refunded [29] - The Fed faces a dilemma with conflicting data: rising inflation potentially driven by tariffs versus softening job numbers, making it difficult to decide whether to cut rates [30][31]

Well, this is an odd one. 47.1% is our July read from MNI on the Chicago PMI. Manufacturing much better than expected, but still under 50.47.1% would be the best since March. But here's the issue. It's the 20th consecutive number under 50 in contraction mode. It's the 34th out of 35 under 50.The last time we had over 50 was November of 23, but prior to that, the entire year was under 50. So, it's definitely a weak number in general, but it's a strong number today. Dollar index, and we mentioned this yesterd ...

China's Economy & Trade Talks - China's economy is in relatively good shape, with July data showing improvement compared to June, although growth is not exceeding year-ago levels [1][2] - China has included export controls in trade negotiations, giving them significant leverage, particularly concerning rare earths and critical minerals [3][5] - The inclusion of export controls has created a situation of mutually assured destruction, giving China a choke point over the United States economy [6] Manufacturing Sector - Despite PMI data suggesting weakness, the manufacturing sector in China remains strong and continues to export [9][10] - While exports to the United States have contracted, there has been a surge in exports to Asia, indicating the manufacturing machine is still productive [10] - Manufacturing's strength is crucial as China currently lacks other significant growth drivers [11] Security Concerns & Chip Industry - China is raising potential security risks with chips, potentially as a response to concerns about Huawei [6] - There are concerns about the future ability to geographically track chips, leading to worries about transshipment and potential circumvention of regulations [7]