Apple has found a new trick to get out of Trump’s trade war. Call it flattering the boss.

On Wednesday, President Donald Trump announced that Apple had been spared a looming 100 percent tariff on semiconductors, which would have raised the price of iPhones worldwide. Apple also pledged on Wednesday to invest an additional $100 billion in U.S. plants and operations, handing Trump a personalized statue in gold. Trump, who has long criticized Apple and other companies for not building more factories in the U.S., apparently responded positively.

“The statue is made in Utah,” Apple CEO Tim Cook said on Wednesday, according to Reuters. “It was made by Corning. This is our 50th anniversary as a company, and Corning has been with us every step of the way, providing specialty glass for our iPhones.” Corning’s corporate historian said the company had collaborated with a former U.S. Marine Corps corporal working at Apple to design the statue.

The statue was cut in the form of a large circle of glass with the Apple logo boldly emblazoned on the inside. According to Cook, the statue’s base was also made of 24-karat gold and was engraved with Trump’s name. Cook then added his own autograph: “Made in America.”

Apple’s CEO was not in attendance at the Oval Office event on Wednesday, where the tariff news was made public. Trump made clear that Apple, which he called “great,” would be exempt from “no charge” when tariffs on semiconductors come into effect, as would any company that makes new factories in the U.S. The news is a major reprieve for Apple, which for months has been singled out by the president for criticism over where it sources its components.

The flare-up began earlier this spring, with Trump repeatedly castigating Apple for moving production of the iPhone into India instead of the U.S. By April, Trump was crowing that tariffs would produce “Made in America” iPhones. He was more combative by May. While in the Middle East, Trump even publicly confessed to having “a little problem with Tim Cook” because of Apple’s supply chain. Trump reportedly told Cook personally, “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 pointed out that moving iPhone assembly to the U.S. is easier said than done and could take years if it can be done at all. In fact, analysts note, Trump and his team pushed this line, with Commerce Secretary Howard Lutnick speculating that Apple could use “robotic arms” to replicate its Chinese production facilities on U.S. soil.

Cook has long been willing to parry Trump’s more blunt demands. But, for the moment, Wednesday’s announcement indicates that Trump has backed away from his hardline demand that all iPhones be built in the U.S. The tariff exemption also offers a partial reprieve from Trump’s previous threat of a 25 percent Apple tariff. While Trump once again described Apple’s Wednesday announcement as “a significant step toward the ultimate goal of ensuring that iPhones sold in America also are made in America,” he offered no further demands in the near term.

Cook has also confirmed that “Made in America” iPhones are now built with semiconductors, glass, and Face ID modules from U.S. suppliers, but has given no timeline for when the company might begin final assembly on American soil. He instead left it as an open question, with Cook only noting that manufacturing would continue to happen outside the U.S. “for a while.”

Apple has long played this game with Trump. While his predecessor Barack Obama spent most of his second term ignoring Apple, Trump often called on Cook directly to pressure the company to build plants in the U.S. The pledges on Wednesday amount to another round in this longer-running game of promises and small investments. In 2017, Trump promised that Apple would build three “big, beautiful” plants in the U.S. One was built, and it made masks instead of iPhones. Last year, Trump showed up at an Austin, Texas, plant that he had promised would make iPhones. Instead, Apple made it into a MacBook Pro plant.

Apple says it will invest $600 billion in the U.S. over four years. It has also promised to create thousands of jobs and build “two advanced campuses.” But while the figure may sound impressive, analysts told Reuters that $600 billion roughly lines up with Apple’s projected level of investment spending in the U.S. over that period. It’s an amount, the publication notes, “similar to one the company announced under the Biden administration and the previous Trump administration.”

In other words, it’s a figure Apple was almost certainly going to reach no matter who was in the White House. Trump has also warned that companies that don’t follow through on such investments could still face retroactive tariffs. For now, at least, Apple is following its existing plan of long-term U.S. investments while keeping the final assembly of iPhones abroad. The math for tariffs has changed little. For now, Trump has chosen not to hold Apple to account.

Wall Street, however, seems to view the charade as a positive sign. Nancy Tengler, CEO and CIO at Laffer Tengler Investments, which owns Apple stock, told Reuters that the decision showed “a savvy solution to the president’s demand that Apple manufacture all iPhones in the U.S.”

Cook’s combination of charm, symbolic gestures, and calculated U.S. investments has bought Apple more time in the trade war for the time being. Trump continues to talk about “Made in America” progress, but Apple will likely keep its most labor-intensive work overseas while dodging steep tariffs at home.