Apple CEO Cook Meets Treasury Secretary Mnuchin at Headquarters

(Bloomberg) -- Apple Inc. Chief Executive Officer Tim Cook met with U.S. Treasury Secretary Steven Mnuchin at the technology giant’s new Apple Park campus in Cupertino, California, according to a tweet from Mnuchin.

In the Twitter post, Mnuchin thanked Cook for a commitment to invest $350 billion in the U.S. Earlier this year, Apple said it would be investing that amount in the country over the next five years, taking into account a fourth U.S. campus and several thousand new hires. The company is also bringing back most of its overseas cash as part of new U.S. tax laws, and recently granted most employees $2,500 worth of restricted stock units.

Earlier on Friday, Mnuchin publicly opposed proposals by some countries that he said target technology companies. Europe is considering a digital tax that may be based on tech companies’ revenue in the region.

“The U.S. firmly opposes proposals by any country to single out digital companies. Some of these companies are among the greatest contributors to U.S. job creation and economic growth," Mnuchin said in a statement.

To contact the reporter on this story: Mark Gurman in San Francisco at mgurman1@bloomberg.net.

To contact the editors responsible for this story: Tom Giles at tgiles5@bloomberg.net, Alistair Barr, Alexis Leondis

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