“Two of Asia’s biggest technology companies said they were looking to expand investment in the United States, as President-elect Donald Trump pushes to bring manufacturing and jobs back home,” Reuters reports. “Billionaire businessman Masayoshi Son, also the head of Japan’s SoftBank Group Corp, pledged a $50 billion investment in the United States, and Apple Inc. supplier Foxconn said it was in preliminary discussions to expand its U.S. operations.”

“Son said on Tuesday, after meeting Trump, his investment would create 50,000 new jobs, a move the U.S. President-elect claimed was a direct result of his election win,” Reuters reports. “Trump’s moves since the election to engage with individual companies, while turning his back on broader, years-in-the-works trade deals, show that he is leaning on the deal-making skills he honed in the boardroom.”

“Son’s business partner Foxconn issued a brief statement after a report by broadcaster CNBC showing a snapshot of a page held by Son outlining the investment carrying the logos of SoftBank and the Taiwanese firm, formally known as Hon Hai Precision Industry Co.,” Reuters reports. “The page also showed an additional $7 billion investment and creation of a further 50,000 jobs. ‘While the scope of the potential investment has not been determined, we will announce the details of any plans following the completion of direct discussions between our leadership and the relevant US officials,’ the Foxconn statement said.”

U.S. President-elect Donald Trump (left) and Softbank CEO Masayoshi Son

U.S. President-elect Donald Trump (left) and Softbank CEO Masayoshi Son

 
“Shares in SoftBank jumped 6.2 percent on Wednesday in Tokyo to their highest since August last year. ‘Now the market sees SoftBank as a Trump-related stock and that’s because it reacted favorably to their meeting,’ said Fumio Matsumoto, a fund manager at Dalton Capital in Japan,” Reuters reports. “The billionaire’s victory has been a boon to stock investors. The Dow Jones industrial average closed at another record level on Tuesday, its 11th new high since the Nov. 8 vote.”

Read more in the full article here.

MacDailyNews Take: Two of Apple’s most important partners – SoftBank (which owns ARM) and product assembler Foxconn an are in on this deal. More American-made Apple products on the way?

SEE ALSO:
Softbank to invest $50 billion in the U.S., create 50,000 new tech jobs after meeting with President-elect Trump – and Apple supplier Foxconn is in on the deal – December 6, 2016
President-elect Trump invites tech leaders to roundtable in Manhattan next week – December 6, 2016
President-elect Trump meets with Apple board member Al Gore at Trump Tower in Manhattan – December 5, 2016
President-elect Trump tells Apple CEO Tim Cook that he’d like to see Apple make products in the U.S. – November 23, 2016
President-elect Trump says Apple CEO Tim Cook called him after election victory – November 22, 2016
Apple could make iPhones in the U.S.A. under President Trump, sources say – November 17, 2016
Japan’s Softbank just became one of Apple’s most important suppliers – July 18, 2016