President Trump announced today that Apple will receive an exemption from an upcoming tariff on chips and semiconductors. The exemption follows Apple's recent commitment to invest $100 billion in the US economy. Specific details of the tariff and the duration of the exemption were not disclosed during the Oval Office press conference. This move is likely intended to incentivize further investment and job creation by Apple within the United States. The exemption could provide Apple with a significant competitive advantage by reducing production costs.