The announcement in the Oval Office, set for 4:30 p.m. ET, includes Apple’s commitment to a new “American Manufacturing Program,” a White House official confirmed to CNBC.

Billionaire Apple CEO Tim Cook presented Donald Trump with a gaudy personalized gift boasting a 24-karat gold base as the tech giant woo’ed the president at the White House on Wednesday. Cook dropped in to the White House bearing his golden gift to announce the tech company’s extra $100 billion investment in American manufacturing as the president still waves the threat of tariffs.