The president then claimed, “We’ll be putting a tariff of approximately 100% on chips and semiconductors.” Trump first teased the semiconductor tariffs during a Tuesday interview with CNBC’s “Squawk Box” to pressure manufacturing companies to return to the United States.

Trump also announced Apple’s $100 billion investment in domestic manufacturing, which will avert harsh tariffs on its signature iPhones. Apple had already pledged a $500 billion investment in the U.S. over the next four years.

“That’s $100 billion more than they were originally going to invest. And this is the largest investment Apple has ever made in America and anywhere else,” said Trump. “The company is also unveiling its ambitious new American manufacturing program, which will bring factories and assembly lines across our country all roaring to life.”

The president also claimed that the Apple investment will create 20,000 new American jobs and thousands more at Apple suppliers.

Apple said its investment includes new and expanded work with 10 companies across the U.S. Applied Materials Inc. and Texas Instruments will be among the partners to boost the semiconductor manufacturing supply chain. Applied Materials also announced a new investment of more than $200 million in Arizona for manufacturing components for semiconductor equipment.

“This is a significant step toward the ultimate goal of ensuring that iPhones sold in the United States of America also are made in America,” Trump explained.

Apple CEO Tim Cook attended the Wednesday afternoon event and spoke about the company’s investments in the U.S.

“You’ve been a great advocate for American innovation and manufacturing. And I’m grateful for your leadership and your commitment,” Cook told Trump. “That’s a commitment we share at Apple, because American innovation is central to everything we do. Our products are designed here. We’re hiring and growing here, and we support 450,000 jobs with thousands of suppliers and partners in all 50 states.”

Cook also announced that very soon, “for the first time ever, every single new iPhone and every single new Apple Watch sold anywhere in the world will contain cover glass made in Kentucky.”

However, some experts claim Apple has a history of committing to American investments without follow-through.

“Tim Cook has been, you know, like astute in telling Trump what he wants to hear that we are gonna build in America. But he is not following through, and he is obfuscating various things,” Patrick McGee, author of “Apple in China,” told Bari Weiss in a podcast interview in May.

“Apple’s saying $500 billion for four years. If that’s the case, why aren’t I seeing Apple jobs here, there, and everywhere for like a dozen different plants?” McGee continued. “Like the literal, the press release literally says $500 billion, and we’re gonna create 20,000 jobs. How bad would a government program have to be to spend $500 billion to generate 20,000 jobs? It’s ludicrous.”