US President Donald Trump said he spoke with Apple Inc. Chief Executive Officer Tim Cook earlier on Monday, just as the iPhone maker was reported to be considering price increases later this year.

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.

Apple is reportedly considering raising prices on its next generation of iPhones expected to be released this fall—but without pinning higher costs on tariffs.