Apple Inc. will commit an additional $100 billion to U.S. manufacturing, the White House said, with President Donald Trump and Chief Executive Officer Tim Cook slated to unveil the pledge at 4:30 p.m. New York time in the Oval Office. The outlay launches an “American Manufacturing Program” intended to shift more of Apple’s supply chain on-shore. The new money lifts the iPhone maker’s planned domestic investment to about $600 billion over the next four years, adding to a $500 billion package announced in February that included a server factory in Houston and a supplier-training academy in Michigan. National Economic Council Director Kevin Hassett said the initiative is likely to involve at least one new factory and deeper supplier commitments. The announcement comes as the administration threatens a 25% tariff on iPhones assembled abroad and a day before a previously announced 145% levy on Chinese goods takes full effect. Apple told analysts last week that existing tariffs cost it $800 million in the June quarter and could add $1.1 billion this period. Increasing its U.S. footprint may help the company secure exemptions while assuaging pressure from Washington to reshore production. Investors welcomed the prospect of higher domestic spending. Apple shares rose about 3% in pre-market trading to roughly $210, adding more than $100 billion in market value.