Trump Effect? Companies Announce Billions in U.S.
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Posted On: 02/08/2017 5:13:00 PM
Trump Effect? Companies Announce Billions in U.S. Investments, New Jobs
President-elect Donald Trump has repeatedly vowed to put pressure on American companies that outsource jobs or manufacture products destined for the U.S. market abroad.
So far, Trump has been good on his word.
On Tuesday, several companies announced billions of dollars in new U.S. manufacturing investments and plans to create thousands of new jobs.
General Motors revealed a $1 billion investment in U.S. factories, moving some production from Mexico to Michigan.
Hyundai announced that its subsidiaries, including the Hyundai and Kia brands, have allocated more than $3 billion for supporting their factories in Georgia and Alabama.
Walmart, already the nation's largest private employer, touted a plan to create approximately 10,000 jobs in the U.S. this year.
German chemical giant Bayer AG promised billions of dollars in research and development spending in the U.S., and committed to creating 3,000 new jobs, if its planned merger with Monsanto receives the necessary regulatory approvals to proceed.
All of this comes after companies like Carrier and Ford reversed plans to move some manufacturing to other countries, in response to critical tweets from the president-elect.
President-elect Donald Trump has repeatedly vowed to put pressure on American companies that outsource jobs or manufacture products destined for the U.S. market abroad.
So far, Trump has been good on his word.
On Tuesday, several companies announced billions of dollars in new U.S. manufacturing investments and plans to create thousands of new jobs.
General Motors revealed a $1 billion investment in U.S. factories, moving some production from Mexico to Michigan.
Hyundai announced that its subsidiaries, including the Hyundai and Kia brands, have allocated more than $3 billion for supporting their factories in Georgia and Alabama.
Walmart, already the nation's largest private employer, touted a plan to create approximately 10,000 jobs in the U.S. this year.
German chemical giant Bayer AG promised billions of dollars in research and development spending in the U.S., and committed to creating 3,000 new jobs, if its planned merger with Monsanto receives the necessary regulatory approvals to proceed.
All of this comes after companies like Carrier and Ford reversed plans to move some manufacturing to other countries, in response to critical tweets from the president-elect.
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