Apple plans new US campus; to pay US$38b in tax on foreign cash

New York

APPLE will open a new campus as part of a five-year, US$30 billion US investment plan and will make about US$38 billion in one-time tax payments on its overseas cash, one of the largest corporate spending plans announced since the passage of a tax cut signed by US President Donald Trump.

The company has been under increasing pressure to make US investments since the 2016 presidential campaign, when Mr Trump targeted the iPhone maker for making products in Asian factories.

While Apple has announced no plans to change that practice and experts say it would be economically impractical to make iPho…