President Donald Trump said Monday that he talked to Apple

 CEO Tim Cook after the U.S. and China agreed to suspend most tariffs for 90 days.

“I spoke to Tim Cook this morning, and he’s going to, I think, even up his numbers,” Trump said in the Oval Office. ”$500 billion, he’s going to be building a lot of plants in the United States for Apple. And we look forward to that.”

Apple previously said in February it would spend $500 billion to expand many of its operations in the U.S., including assembling AI servers in Houston.

Any cooling of a U.S.-China trade war is expected to boost Apple, which does the majority of its device production in the country, and also counts the region as its third-largest by sales.

Wall Street and Apple investors cheered the pause on Chinese tariffs. Apple stock was up 6% in trading on Monday, versus 3% for the Nasdaq. For more on this, read the full CNBC report.