Donald Trump says Foxconn could triple investment to US$30 billion

Kristopher Drake
August 4, 2017

President Donald Trump touted Foxconn's $10 billion deal to build its first US manufacturing plant in Wisconsin during a press conference on Wednesday, once again hinting the investment could end up being worth triple that amount.

"It's a moving target", a source said of the Foxconn inquiries.

Republican lawmakers are split over how to move forward with a plan to send $3 billion to an electronics manufacturing giant promising to create 13,000 jobs in Wisconsin as questions surfaced about how the plan would affect the next state budget that is a month overdue.

United States president Donald Trump revealed at a meeting with a group of small-business leaders August 1 that Foxconn chairman Terry Gou told him privately that his company could invest as much as US$30 billion in the United States, three times the figure announced by Gou at a press conference held on July 27 at the White House.

"But he told me that off the record, so I promised I wouldn't tell anyone", Trump added. "We will provide an update as soon as we have finalized those plans".

Wisconsin Governor Scott Walker suggested Tuesday that Hon Hai is likely to commit to other investment projects in the state, according to another USA media report.

Trump said Tuesday that Foxconn CEO Terry Gou "told me off the record - he thinks he may go $30 billion".

News 3 also recently reported the Foxconn chairman visited the UW Carbone Cancer Center to discuss the potential for collaboration. Other states that Foxconn said it was looking at were Michigan, Illinois, Indiana, Ohio, Pennsylvania and Texas. A public hearing on the proposal was scheduled for Thursday, just six days after a draft of the plan was released and eight days after news of the state's deal with Foxconn broke.

Critics have raised alarms about other provisions waiving environmental permits and regulations to speed construction of the plant.

The bill would also allow the state to borrow $250 million for the Interstate 94 rebuilding project, which connects Milwaukee and Chicago and is near where the plant is expected to be.

Other reports by Ligue1talk

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