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Tim Cook's gift to Trump: Apple CEO Tim Cook presented a gift to US President Donald Trump before announcing an additional 100 billion USD in company investments in US manufacturing. During the press conference at the White House on Wednesday (local time), Cook presented a unique piece of glass engraved for President Trump with a 24-karat gold base. The unique glass was made by an iPhone employee who is a former US Marine Corporal, said Cook.

A gift given by Apple CEO Tim Cook to US President Donald Trump stands on President Trump's table | CREDIT: REUTERS

(A gift given by Apple CEO Tim Cook to US President Donald Trump stands on President Trump's table | CREDIT: REUTERS)

While presenting the gift to Trump at the White House, Cook said, "This box was made in California, and this glass comes off the line. It's engraved for President Trump. It's a unique unit of one. It was designed by a US Marine Corps corporal, a former one who works at Apple now. Designed it for you. And the base comes from Utah and is 24-karat gold."

How much does Tim Cook's gift to Trump cost?

Social media users estimated that the broken glass piece could have cost around $2000 or more. However, the exact cost remains unknown until further details are released. Some users took to social media to speculate about the potential damage and costs involved, highlighting the potential financial implications of such incidents. Without official confirmation, these estimates remain speculative.

Tim Cook announces to expand manufacturing base in US

Later in the press conference, Cook announced a major push to expand Apple's manufacturing base in the United States, including a decision to exclusively use rare-earth magnets made in the country. Cook stated that Apple will now source only American-made rare-earth magnets for its devices. These magnets will be developed by MP Materials, the only fully integrated rare-earth producer in the United States.

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He stated, "This year alone, the American manufacturers are on track to make 19 billion chips for Apple in 24 factories across 12 different states. Second, we're committed to buying American-made and advanced rare-earth magnets developed by MP Materials, which will become part of Apple's devices shipped around the world."

He also highlighted that Apple has worked with its partner Corning to build the world's largest and most advanced smartphone glass production line in the state. "In Kentucky, we've worked with our partners at Corning to build the world's largest and most advanced smartphone glass production line. And I'm pleased to announce that very soon, this is 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," Cook added.

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Apple's total investment in US is now $600 billion

Apple's total investment commitment in the United States has now been raised to USD 600 billion over the next four years. This includes an additional USD 100 billion announced on Wednesday. Earlier this year, the company had committed USD 500 billion and announced plans to hire 20,000 workers across the country over the same period.

The move is also seen as a strategic decision that could help Apple sidestep potential tariffs on iPhones and other products amid rising tariffs by the US President on imports to the US.

(With inputs from agency)