Apple may have discovered a new playbook for sidestepping President Donald Trump’s trade war. In Trump’s mind, at least, Apple is no longer making the majority of its iPhones in the United States. And it could soon be punished for it. But on Wednesday, Trump went out of his way to offer a full reprieve, at least temporarily.

The president said Apple would be exempt from an upcoming 100 percent tariff on semiconductors, a move that could have drastically increased iPhone prices in all markets. In return, Apple pledged to invest an additional $100 billion in the U.S., according to Reuters, and gave Trump a personalized statue trimmed with 24-karat gold.

The statue, CEO Tim Cook told Trump on Wednesday, was from Utah. It’s also made by Corning, one of Apple’s oldest partners, and makes specialty glass for iPhones. It was cut by an Apple employee and a former corporal in the U.S. Marine Corps into a large circle of glass and etched with a massive Apple logo. “It also has a gold base,” Cook said, “that’s 24-karat gold. It’s engraved with your name.” Cook then signed it, with the words “Made in America.”

Trump, who has spent months pressuring corporations to produce more goods in the U.S., seems to have appreciated the gift. As Cook presented the statue in the Oval Office, he said Apple—and any other company that builds factories in the U.S.—will pay “no charge” on semiconductors once the tariffs are officially in place. It’s a major win for the company, which has been under fire for months from the president over its supply chain.

In the spring, things were particularly rough. Trump criticized Apple for not bringing iPhone production from China to the U.S., and for instead transferring part of it to India. In April, Trump said his trade war would result in “Made in America” iPhones. In May, the rhetoric turned to frank annoyance. Trump visited the Middle East and told reporters he had “a little problem with Tim Cook.” An account from The New York Times has Trump telling Cook directly, “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.”

But it’s never been clear how realistic Trump’s demands are, or how quickly they could be met. Analysts have long said that moving iPhone assembly to the U.S. would be an arduous process that could take years, if it’s even possible at all. Trump’s administration, in turn, kept pushing the message that it would work. Commerce Secretary Howard Lutnick told The New York Times in June that Apple was investigating “robotic arms” that could cut glass to the same precision that its factories in China do.

But judging by Wednesday’s announcement, Trump has dialed back his hard line. He said as much on stage, contrasting his stance now with the 25 percent tariff threat he previously made for Apple if it didn’t start assembling all iPhones in the U.S. “This is a significant step toward the ultimate goal of ensuring that iPhones sold in America also are made in America,” Trump said. For now, at least, he has given up the demand.

Cook has since confirmed that Apple does make parts like semiconductors, glass, and Face ID modules in the U.S. He has not given a timeline for moving final assembly to the U.S., and noted on Wednesday that it would “probably” stay overseas “for a while.”

In some ways, Apple has been here before. Cook used a similar playbook to charm Trump and his administration during his first term, using the promise of investment in the U.S. to diffuse the more bombastic demands. In 2017, Trump announced Apple would build three “big, beautiful” plants in the U.S. The company only ended up building one, and it makes face masks, not consumer electronics. In 2019, Trump visited a plant in Texas that he promised would be able to produce iPhones. Instead, Apple allocated it to producing MacBook Pros, and Trump’s dream of a domestic iPhone remained just that.

On Wednesday, Apple said it will invest $600 billion in the U.S. over the next four years. It’s a big number. But as analysts told Reuters, it’s not really all that different from the number Apple says it invests in the U.S. every year. It’s similar to the pledge made by Biden, and similar to the pledge Apple made to Trump when he was previously in office. In other words, Apple may be making the same offer it always has.

Trump has said that companies that don’t make those kinds of promises will be subject to retroactive tariffs. So far, though, Apple looks to be proceeding largely as before. Its investment plans were preexisting, and it will continue to assemble its iPhones outside the U.S. for the foreseeable future. The tariff calculation hasn’t changed, it seems, but Trump isn’t pushing that point, at least for now.

Wall Street seems to approve of Apple’s strategy. Nancy Tengler, the CEO and CIO of Laffer Tengler Investments, which holds Apple shares, told Reuters it was “a savvy solution to the president’s demand that Apple manufacture all iPhones in the U.S.”

Cook’s move of a combination charm offensive and money-making commitment has given Apple yet another stay of execution in the trade war. Trump, for now, seems happy to frame the decision as progress for “Made in America,” but Apple’s most complicated manufacturing will stay abroad.