President Trump announces Intel, Apple chip deal

(CNN)– President Donald Trump says Intel has struck a deal with Apple to start producing computer chips in the U.S.

The president’s announcement comes after Apple CEO Tim Cook told the Wall Street Journal earlier this week iPhone prices were going to go up.

California-based Apple largely relies on Taiwan to manufacture the processors for its iPhones as well as iPads and Mac computers.

Cook said they had been trying to shield customers from the price increase but it’s become unavoidable.

  he said the a-i boom has sparked rising costs for both memory and storage chips.