Apple invests $99 million in China's clean energy initiative

Apple is taking steps to expand its clean energy efforts in China. The company plans to invest 720 million yuan, or about $99 million, into a new clean energy fund. This announcement was made as CEO Tim Cook visited Beijing. The investment aims to help Apple transition its supply chain to 100% renewable energy by 2030. This move comes during a time of tension between the U.S. and China, partly due to tariffs imposed by the Trump administration. Since January, the U.S. has charged a 20% tariff on all Chinese goods, citing China's insufficient action against fentanyl trafficking. This situation has strained relations between the two countries and heightened geopolitical tensions. Chinese officials are eager to attract foreign investment, especially as the economy slows down. They hope to counteract the negative effects of U.S. tariffs. During Cook's visit, China's Council for the Promotion of International Trade expressed support for Apple's deeper engagement in China. Vice Premier He Lifeng also met with executives from various international companies to address concerns and showcase China’s business opportunities. Premier Li Qiang urged countries to keep their markets open amid global instability. Despite some challenges, a few CEOs expressed optimism about business in China, even as attendance from U.S. executives at the China Development Forum has decreased compared to last year.