Trump hails $10-B USA investment from Foxconn


Foxconn intends to build a manufacturing plant in southeastern Wisconsin that will make liquid-crystal-display screens, the type used in everything from computers to vehicle dash panels.

The announcement comes months after Foxconn Chairman Terry Gou said his company would invest at least $7 billion in the USA and create between 30,000 and 50,000 jobs.

Walker called Foxconn's plans "the single largest economic development project in the history of the state of Wisconsin".

"One thing we know about this president is how committed he is to reviving American manufacturing and bringing jobs home, this right here shows actual results, getting it done", Ryan said at the White House event.

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"It's pay to play, meaning you have to perform to get the performance there, so if they make something less than the $10 billion investment or something less than the 13,000 jobs, they don't get as much of an incentive", Walker said.

Wisconsin could be on the hook for billions of dollars in incentives as part of the deal, though no details of the state's proposal have been released. Speaker Ryan immediately leaned forward and said "billion".

It employs around a million workers at its factories across China and has operations in more than 10 countries.

Foxconn has announced that it is making a massive investment into a new US manufacturing facility.

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President Donald Trump said Wednesday a $10 billion electronics manufacturing plant slated for Wisconsin proved corporate leaders "understand that America's capabilities are limitless and that America's workers are the best and that America's most prosperous days are just ahead".

Foxconn, formally known as Hon Hai Precision Industry Co Ltd, said in a statement that the investment "signifies the start of a series of investments by Foxconn in American manufacturing in the coming years". Apple declined to comment on Trump's remarks, on where or when the plants were planned for, or on whether the Foxconn announcement was related to Apple.

President Trump took a lot of the credit for convincing Foxconn to manufacture products in the United States.

Poor working conditions have led to riots and even suicides; the company has had to install nets at some of its factories to stop employees from jumping off the roofs.

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The Wisconsin plant will not be Foxconn's last.