Politics

Trump Calls Apple CEO To Thank Him For Bringing Back Hundreds Of Billions

REUTERS/Carlos Barria

Saagar Enjeti White House Correspondent

President Donald Trump called Apple CEO Tim Cook to thank him for the company’s decision to repatriate hundreds of billions of dollars in cash to the U.S.

Apple made its decision following the recent passage of landmark tax reform legislation by Trump and the Republican controlled congress. Apple will bring back $350 billion to the U.S. over the next five years, will open another campus and create 20,000 domestic jobs.

“We have a deep sense of responsibility to give back to our country and the people who help make our success possible,” Cook said in a statement following the announcement. The company refused to bring back its cash to the U.S. under the old tax code saying the tax penalty would be too high.

Trump previously lauded Apple for its decision in a Wednesday tweet.