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Shira Ovide

Trump Says Apple Will Build Three U.S. Plants. It Won't.

The business press should know by now that the president is not a reliable source. Investors figured that out.
This is Apple's U.S. footprint: retail, not manufacturing.

This is Apple's U.S. footprint: retail, not manufacturing.

Photographer: Mark Kauzlarich/Bloomberg

President Donald Trump's latest media interview brought this not-very-revealing revelation: Apple Inc. promised the president that it would build "three big plants, beautiful plants," he said.

I have no idea what the president meant, and Trump didn't elaborate in the interview. Clearly the president wants to take credit for convincing the world's most valuable public company to start making iPhones in U.S. factories that hire U.S. workers. It's a pledge Trump made when he was campaigning for president. But there is a zero percent chance this is true.