Apple Inc (NASDAQ:AAPL) was among the companies that received praise from President Donald Trump during his trip in Japan.
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Trump Praises Apple, Tim Cook
While touring Japan, Trump hosted an event for business leaders, during which he praised Apple and its CEO, Tim Cook. "You've done more than the entire group here," he said of Apple and Cook.
Trump also highlighted Apple's recent U.S. investments, which total hundreds of billions of dollars, as reported by 9to5Mac. The president specifically praised Apple's so-called American Manufacturing Program, which has invested $600 million in domestic manufacturing.
"We give them fast permits. We give everybody fast permits,” Trump added. “No more waiting 20 years before you get rejected."
Other business leaders in attendance during the event were OpenAI co-founder Greg Brockman, Rakuten Group CEO Hiroshi Mikitani, Salesforce CEO Marc Benioff and SoftBank CEO Masayoshi Son, as reported by Bloomberg.
The praise for Apple in front of these peer tech companies could signal a strong relationship between the tech giant and Trump, as well as the steps Cook is taking to help his company by showing favor to the White House through investments.
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Japan Is Important To Apple, President Trump
A trade deal between the U.S. and Japan saw Trump cap tariffs on Japanese goods, while Japan pledged investments of up to $550 billion in the U.S.
Japan is an important market for Apple as the company focuses on smartphone growth in Asia and international markets.
Cook was recently in Japan in September to celebrate the company's grand reopening of the redesigned Apple Ginza store in Tokyo. Cook celebrated the importance of the store, which was the company's first retail store outside the U.S., opening in 2003.
A month earlier, he presented Trump with a 24-karat-gold plaque during a White House meeting and was rewarded with tariff relief.
Apple reports fourth-quarter financial results on Thursday, an event that could provide more details on iPhone demand in Japan and other markets. The company could also highlight its future increased U.S. investments.
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