'We want to help America,' Apple CEO Tim Cook says of pay $38 billion tax repayment

The company said it planned to create 20,000 new jobs as well.
5:01 | 01/17/18

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Transcript for 'We want to help America,' Apple CEO Tim Cook says of pay $38 billion tax repayment
350. Billion dollar investment over the next five years you are bringing billions of dollars back to the United States to spend here. How will you be spending that money. It will make the largest. Tax payment of its kind. To the US government as a result of the repatriation. Change. And will spend 38 billion there and I'm sure that will be used for for. Purposes of jobs there infrastructure and and so forth and then you know we're putting another site. In the US was thrilled to announce that today we're lifting. Manufacturing fun that we created last year for 1000000005. Billion. We're thrilled what we've seen so far these are businesses that we can help expand in the United States. Or set up operations for the first time in the US we we sell two thirds of our. Products or to go to our revenues come from international countries. And so we we make two thirds of our profits are more outside the United States and so. What we've been advocating for for wild is the ability to bring that. Without a huge penalty we've always felt very comfortable with paying a lot in taxes just nodded. It's not a huge Eugene. And we we like the the repatriation. An agreement with on the corporate tax side and we're going to bring the vast majority here. And do things like that you're sitting in right now when and this facility in Reno. And investing here. And we're investing in a lot of other places in the United States well there are large parts of this that are result of the tax reform. And there's large parts of this that we would have done it in any situation and so. I haven't spent a lot of time in categorizing as to. Because to me this is about America it's not about which bucket you put things that. We want to help America. And it feels great to do that we're are gonna create in aside and we're not ready to tell you where. But we've narrowed the list the law when it to narrow it. Two you know to prevent assertive. This auction kind of process that. We like to stay out it's that we've already narrative in there will be announcing where later in the year. US campuses again. California and Texas right now let's throw any chance it would be in either of those places. Well did the third site will be in a difference day than those two. We will also expand. Some of our existing cells. But the third going to be somewhere else. Yeah a new state. We we actually. Back. More than a year ago about a year ago. We release and that essentially what it does. Is all batteries stage Everett and they become unhealthy at appointment. And and an unhealthy battery has a probability. That it will create an are unexpected re star. It's a you can imagine. If you're making an emergency call. Or you're making imported called it's important to you or an important message that you're waiting for or or you want to capture that that moment. That is fleeting with your camera or whatever we we always focus on the user experience. So at the heart of any decision that we make is the user. And we felt it would be better to take something off for the performance to prevent that from happening. It's a win we did put it out we did say what it was but I don't think a lot of people were paying attention and maybe we should have been clear as well. And so we deeply apologize. For anybody that thinks we had salaam. Other kind. Motivation because our our motivation is use the user. The user is at the center of everything we do and so we've listened to defeat that very carefully. And what we're doing now it is in addition to. Giving everybody. A very very low price on a battery if they would like to get it do you battery. We cut it like 79 29. What we're also going to in a first in a developer release that happens next month. We're gonna give people. The visibility. Of the help that their battery. So it's very very transparent. This hasn't been done before. And but that we thought through this whole thing in learned everything we can. Learn from it it's that we want to do them. And in the situation. Dead in what we will tell somebody's saying you know we're slightly reducing or we're reducing your performance by some amount. In order to not have an unexpected restart. And if you don't want it. You can turn it off. Now we don't recommended. Because. We think that it people's iphones are really important to them and you never can now. When something is so urgent in so. You know I work. Our actions were all service. But the user I can't stress. And you know that Mitt maybe we should have been clear at a point in time that our. Our actions were always the pure. Again it if if anybody out there there're. Believes we did something affairs sleek if we apologize for any kind it. Thing that we did or didn't do. But I think most people by a knife. By one because of the hole that is boring CNET. The that the cameras much that the display is much better. The division they are experience. That you had faced idea and his meaning many reasons to.

This transcript has been automatically generated and may not be 100% accurate.

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