Apple may have discovered an unorthodox way to appease President Donald Trump and his trade war—appeasing his ego. On Wednesday, the president announced that Apple will be exempt from an expected 100 percent tariff on semiconductors that could have driven up iPhone prices around the world. The decision, reported by Reuters, came on the same day that Apple announced an additional $100 billion in U.S. spending and presented Trump with a one-off, personalized statue.

In a brief note posted to Apple’s website, the company said that the statue was created by Corning, an Apple partner best known for its specialty glass in iPhones. The item was designed by a former U.S. Marine Corps corporal who now works at Apple and was cut into a massive glass circle with a bold Apple logo in the center. The statue, Cook said, was sourced from Utah and mounted on a 24-karat gold base that was inscribed with Trump’s name. Cook added his own personalized note, signing off with a hand-written message that said “Made in America.”

For Trump, who has made vocal efforts to pressure corporations to make more products in the U.S., the gift seemed to hit the right notes. Trump, in the Oval Office presentation, confirmed that Apple—and any other company building factories in the U.S.—would be subject to “no charge” when tariffs on semiconductors are eventually implemented. It’s a major reprieve for the tech giant, which Trump has publicly harangued for months over the location of its supply chain.

Trump’s latest about-face comes after a particularly tumultuous spring. Trump had repeatedly chastised Apple for moving parts of its iPhone production into India rather than into the U.S. In April, he said that trade policies would result in “Made in America” iPhones. By May, that frustration seemed to boil over. Trump said during a trip through the Middle East that he has a “little problem with Tim Cook” and, according to reports, said to Cook directly that “We are treating you really good, we put up with all the plants you built in China for years. We are not interested in you building in India.”

Analysts have long pointed out, however, that bringing iPhone assembly plants into the U.S. is an undertaking that would be extremely difficult and take years to accomplish—if it could be done at all. But Trump and others in his administration pushed back against those characterizations and persisted with the argument that such a pivot could and would be accomplished. Commerce Secretary Howard Lutnick even said that Apple was looking at “robotic arms” to perform the same microchip functions in the U.S. that were currently done by human hands in China.

Despite the president’s posturing, Wednesday’s announcement seems to indicate that Trump has lowered his expectations. After threatening Apple a 25 percent tariff on iPhones if they weren’t assembled in the U.S., Trump now suggests that Apple’s recent investment is “a significant step toward the ultimate goal of ensuring that iPhones sold in America also are made in America.” For now, he seems to have backed off on immediate demands.

Cook, for his part, has said that specific components of the iPhone are already made in the U.S., including semiconductors, glass, and Face ID modules. But he offered no clear time frame for when final assembly might occur in the U.S. and instead said that it would continue overseas “for a while.”

Apple is well-practiced at the use of strategic pledges and symbolic investments to placate the president. During Trump’s first term, Cook effectively made a regular habit of calling on the president to flatter him with U.S. investment while side-stepping more aggressive demands. In 2017, Trump pointed to Apple’s plans to build three “big, beautiful” plants in the U.S. But one was ultimately constructed—and the factory made face masks, not consumer products. In 2019, the president visited a Texas plant that he said could make iPhones. Apple instead dedicated the plant to Macbook Pro production, leaving Trump without his iPhones.

Now Apple is pledging an additional $600 billion in U.S. investment over the next four years. While that number may sound substantial, analysts told Reuters that the amount likely corresponds to Apple’s regular spending habits and tracks closely with investments already pledged during the Biden administration and in Trump’s first term. In short, Apple may not be offering anything beyond the baseline.

Trump has in the past threatened that companies that don’t deliver on pledges may be subject to retroactive tariffs. But for now, Apple seems to be continuing its regular investment plan while keeping iPhone assembly overseas. The calculus on tariffs has changed little, and the president is not forcing the issue—at least not yet.