Trump attends Foxconn plant opening ceremony in Wisconsin
On June 28, local time, US President Trump attended the groundbreaking ceremony for Foxconn's new plant in Wisconsin. He also scooped the first clay with Hon Hai Chairman Guo Taiming and Softbank Chairman and President Sun Zhengyi.
Trump has high hopes for Foxconn to build a plant in the United States. He said that this project will create 15,000 jobs and contribute 2.4 billion U.S. dollars annually to the economy of Wisconsin.
Trump, as the president of the United States, is rare for the opening ceremony of a foreign-funded company. He also praised the factory as "the eighth wonder of the world" and stressed that it would be "completely constructed of American reinforced concrete."
Bloomberg said that Trump has exaggerated the number of jobs created by Foxconn's US factory. Previously, Wisconsin officials and Foxconn proposed 13,000 numbers, and Bitamp pointed out that there were 2,000 fewer.
Trump is obviously very satisfied with the results of its introduction of foreign investment. He pointed out that SunZhengyi of Softbank Group invested 44% more than previously announced.
"The $50 billion he (originally promised) has now risen to $72 billion -- and it hasn't stopped there yet -- it doesn't even include Foxconn." Trump said in his speech at the groundbreaking ceremony, "So, this is. event."
Interestingly, SunZhengyi’s investment in the speech was $50 billion. Trump did not explain where the extra $2.2 million came from, and Softbank did not immediately comment on Trump’s statement.
As an ally, Foxconn and Softbank have cooperation in the latter's Pepper robot R&D manufacturing and technology investment fund.
In July last year, Trump and GuoTaiming attended the launch ceremony at the White House, announcing that Foxconn will invest US$10 billion in a LCD screen factory in Wisconsin.
What Trump did not mention in his speech is that Wisconsin also has to subsidize a new factory in Foxconn: it is estimated that by 2032, local taxpayers may have to pay 13% for the establishment of the factory and the park. In addition, 17% of Foxconn employees are paid. The Wisconsin State Government’s public spending allowance for the construction of Foxconn is expected to be as much as US$760 million.
At the Foxconn groundbreaking ceremony, Trump did not forget to spit on the classic American Harley motorcycle manufacturer. As the EU imposes tariffs on Trump's penalties for the import of steel and aluminum, Harley Moto plans to set up a production line in the EU countries.
"Harley, please produce these beautiful motorcycles in the United States, please." Trump said with some sarcasm, "Don't be smart with us, or your customers will not be happy."
Foxconn’s establishment of a plant in the United States is even more of a political bargaining chip for Trump. Therefore, on the day of the groundbreaking ceremony, Trump celebrated his own creation of employment opportunities for the United States. But Wisconsin voters don't necessarily buy it.
Bloomberg reported that Marquette's survey showed that only 40% of Wisconsin's respondents believe that Foxconn's final economic return will be the same as the US investment in the project; 46% of respondents said that taxpayers' The cost will exceed the value of the factory. However, although many people do not expect the project to generate significant benefits in their region, the majority of the respondents believe that the project will greatly improve the economy of the Milwaukee region.
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On June 28, local time, US President Trump attended the groundbreaking ceremony for Foxconn's new plant in Wisconsin. He also scooped the first clay with Hon Hai Chairman Guo Taiming and Softbank Chairman and President Sun Zhengyi.
Trump has high hopes for Foxconn to build a plant in the United States. He said that this project will create 15,000 jobs and contribute 2.4 billion U.S. dollars annually to the economy of Wisconsin.
Trump, as the president of the United States, is rare for the opening ceremony of a foreign-funded company. He also praised the factory as "the eighth wonder of the world" and stressed that it would be "completely constructed of American reinforced concrete."
Bloomberg said that Trump has exaggerated the number of jobs created by Foxconn's US factory. Previously, Wisconsin officials and Foxconn proposed 13,000 numbers, and Bitamp pointed out that there were 2,000 fewer.
Trump is obviously very satisfied with the results of its introduction of foreign investment. He pointed out that SunZhengyi of Softbank Group invested 44% more than previously announced.
"The $50 billion he (originally promised) has now risen to $72 billion -- and it hasn't stopped there yet -- it doesn't even include Foxconn." Trump said in his speech at the groundbreaking ceremony, "So, this is. event."
Interestingly, SunZhengyi’s investment in the speech was $50 billion. Trump did not explain where the extra $2.2 million came from, and Softbank did not immediately comment on Trump’s statement.
As an ally, Foxconn and Softbank have cooperation in the latter's Pepper robot R&D manufacturing and technology investment fund.
In July last year, Trump and GuoTaiming attended the launch ceremony at the White House, announcing that Foxconn will invest US$10 billion in a LCD screen factory in Wisconsin.
What Trump did not mention in his speech is that Wisconsin also has to subsidize a new factory in Foxconn: it is estimated that by 2032, local taxpayers may have to pay 13% for the establishment of the factory and the park. In addition, 17% of Foxconn employees are paid. The Wisconsin State Government’s public spending allowance for the construction of Foxconn is expected to be as much as US$760 million.
At the Foxconn groundbreaking ceremony, Trump did not forget to spit on the classic American Harley motorcycle manufacturer. As the EU imposes tariffs on Trump's penalties for the import of steel and aluminum, Harley Moto plans to set up a production line in the EU countries.
"Harley, please produce these beautiful motorcycles in the United States, please." Trump said with some sarcasm, "Don't be smart with us, or your customers will not be happy."
Foxconn’s establishment of a plant in the United States is even more of a political bargaining chip for Trump. Therefore, on the day of the groundbreaking ceremony, Trump celebrated his own creation of employment opportunities for the United States. But Wisconsin voters don't necessarily buy it.
Bloomberg reported that Marquette's survey showed that only 40% of Wisconsin's respondents believe that Foxconn's final economic return will be the same as the US investment in the project; 46% of respondents said that taxpayers' The cost will exceed the value of the factory. However, although many people do not expect the project to generate significant benefits in their region, the majority of the respondents believe that the project will greatly improve the economy of the Milwaukee region.
Electronics Industry Follow Me
Link:Tenco
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