Apple may have discovered a new way to deal with President Donald Trump’s trade war. At a meeting on Wednesday, Trump said Apple would not be subject to a planned 100 percent tariff on semiconductors, a move that could have driven iPhone prices up substantially around the world. The president also said that the company had committed to invest an additional $100 billion in the U.S., bringing its total to $600 billion, according to Reuters. It was also the day Apple gifted Trump a personalized, gold statue.

Cook told reporters that the statue was made by Corning, a company with which Apple has a longstanding relationship that makes specialty glass for iPhones. It was cut into a large glass circle by a former Marine Corps corporal who now works at Apple, and it features a giant Apple logo in the center. The statue “was made in Utah,” Cook said. “It’s got a base, which is 24-karat gold, and it has his name engraved.” Cook added his own touch, signing the base with a message that read “Made in America.”

Trump has long taken a tough approach with corporations about making more of their products domestically, and the gift seemed to go over well. As Cook presented it in the Oval Office, the president said that Apple would not be hit with any tariff when it goes into effect. He then extended the policy to “any company that’s building plants in the U.S., no charge.” It’s a major relief for Apple, which has been targeted for months by Trump for where it keeps its supply chain.

In recent months, the trade war between the U.S. and China has focused on semiconductors, key components in electronic devices like iPhones. The components have not been subject to Trump’s existing tariffs on Chinese imports, but he has said he wants to bring that to an end. The change marks a sea change in Trump’s stance. In recent months, he’s taunted Apple directly over its supply chain, and earlier this year, he issued a broad threat: If Apple wouldn’t move iPhone production to the U.S., he’d levy a 25 percent tariff on the company.

The company has been burned before by promising to move factories to the U.S. and then taking a long time to follow through. In a February 2020 interview, Cook told Bloomberg that Apple had made promises to Trump but that some of those were “very difficult to do overnight.”

Trump had publicly threatened the company at multiple events in the spring. In April, as he put the kibosh on iPhones coming to market without the latest features, Trump said the current trade war was the reason for that, and he promised “Made in America” iPhones if he had his way. In May, he was more blunt. “I have a little problem with Tim Cook,” Trump said as he was jetting through the Middle East. “He’s having a hard time,” he added later. A more direct threat came in a phone call with Cook: “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,” Trump reportedly told Cook.

Trump has long repeated the idea that iPhones can and should be assembled in the U.S., but that assessment has been met with skepticism from both analysts and his own team. U.S. Commerce Secretary Howard Lutnick went so far as to suggest that Apple could bring in “robotic arms” to achieve the same quality as Chinese plants.

Trump is backing away, at least temporarily, on demands for immediate action. Instead, Cook’s testimony that Apple was already making iPhone components at home and a commitment to $100 billion in investment from Apple were enough to satisfy him. “I want them to make it [in the U.S.], but they’re making a big contribution to our countries,” Trump said on Wednesday, adding that Apple was making “a big investment” and “a significant step toward the ultimate goal of ensuring that iPhones sold in America also are made in America.”

Cook, for his part, has been making a similar case for years: Yes, certain components for the iPhone, like semiconductors, glass, and Face ID components, are already manufactured in the U.S. But he has offered no time frame for final assembly, and has suggested that it won’t happen any time soon. “iPhone final assembly will continue to be outside of the U.S. for a while,” he wrote in a prepared statement earlier this month.

The fact is that Apple is more or less doing what it’s already been doing. Apple also made a similar pledge of $1 trillion in the next five years in Trump’s first term. One plant was built at the end of his first year, one at the end of his second, neither of which made the iPhones Trump so desired. The one built in Arizona was used to make face masks. In 2019, Apple reopened a Texas plant that Trump visited and promised could make iPhones. Apple has since used the plant to manufacture MacBook Pros.

Trump has been willing to go much further before in pressing Apple over its supply chain. At a public event at the White House in 2019, he said, “If I find they’re not making the products here, I’m charging them a lot of tariffs, I’m not going to let that happen.” He also threatened to make Apple pay tariffs retroactively for not making the change. As with the tariff issue, the current calculus appears to be unchanged, and Trump has not pressed the matter.