Apple to seek tariff refunds, plans to reinvest money in U.S. manufacturing
Apple CEO Tim Cook announced the company is seeking refunds for tariffs paid under a policy implemented during Donald Trump's administration, which the Supreme Court recently ruled unconstitutional. Apple plans to reinvest any refunded funds into U.S. innovation and advanced manufacturing as part of its American Manufacturing Program. The company reported $111.2 billion in revenue for Q2 2026, a 17% year-over-year increase.
- ▪The Supreme Court ruled 6–3 that the International Emergency Economic Powers Act does not authorize the president to impose broad tariffs, invalidating Trump-era measures.
- ▪Apple intends to reinvest any tariff refunds into new U.S. innovation and advanced manufacturing initiatives beyond its existing commitments.
- ▪Apple has expanded its American Manufacturing Program to include new partners such as Bosch, Cirrus Logic, TDK, and Qnity Electronics.
- ▪Apple reported $111.2 billion in revenue for fiscal Q2 2026, marking a 17% increase compared to the same quarter last year.
- ▪Former President Donald Trump stated he would 'remember' companies that apply for tariff refunds, criticizing those that do so.
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