“Foxconn Technology Group is considering building a U.S. display-making facility for upwards of $7 billion, a major investment for Apple Inc.’s main manufacturer that may create tens of thousands of American jobs during President Donald Trump’s first year in office,” Bloomberg News reports.
“The company is considering a joint investment with Sharp Corp., the Japanese display supplier it bought last year, but details have yet to be hammered out, Reuters cited Chairman Terry Gou as telling reporters in Taipei on the sidelines of a company event. Foxconn confirmed the report Monday,” Bloomberg News reports. “An investment by Foxconn, whose main listed unit is Hon Hai Precision Industry Co., would mark a victory for Trump, who’s repeatedly blasted China for stealing American jobs and devastating U.S. manufacturing.”
“Foxconn has said it’s in preliminary discussions to broaden its investment in the U.S., without elaborating. Trump has often articulated his vision of bringing manufacturing jobs back to America from China, which became the world’s factory floor thanks to cheap labor and central policy support. And he’s singled out Apple in the past,” Bloomberg News reports. “The idea took shape after Gou spoke with Masayoshi Son, chairman of SoftBank Group Corp. and a close business partner. Son, who’s announced his own plan to invest $50 billion in the U.S., asked Gou for his views. A document Son held up for reporters after a December meeting with Trump included the words ‘Foxconn’ and ‘$7 billion’ alongside SoftBank’s numbers.”
Read more in the full article here.
“‘Son is a good friend,’ Gou said, adding that Son had asked for his views about investing in the United States,” Reuters reports. “Gou said he told Son that the United States has no panel-making industry but it is the second-largest market for televisions.”
Reuters reports,” Foxconn has existing cooperation and operations in Pennsylvania, which is a state Foxconn would prioritize, depending on land, water, power, infrastructure and other investment conditions, he said.”
Read more in the full article here.
“‘Apple is willing to invest in the facility together because they need the [panels] as well,’ Gou told reporters after the company’s annual year-end party in the Nankang district of Taipei,” Debby Wu reports for Nikkei. “Trump, who campaigned on pledges to incentivize domestic production and impose 45% tariffs on Chinese and Mexican imports, used his inaugural address Friday to reiterate his commitment to deliver local manufacturing jobs. ‘We will get our people off of welfare and back to work, rebuilding our country with American hands and American labor,’ he said. ‘We will follow two simple rules: buy American and hire American.'”
“Gou said Sunday that he has faced no pressure from Beijing over Foxconn’s plan to increase its U.S. presence. People familiar with Gou’s style have suggested that being caught in rising tensions between the U.S. and China could even benefit the Taiwanese tycoon,” Wu reports. “‘Foxconn is known to leverage different provinces and countries against each other for better terms,’ an industry source said, suggesting Gou could pit both countries against each other as both sides courted new investments from the company.”
Wu reports, “Cook said during a December 2015 TV interview that unlike the Chinese labor force, American workers no longer had the skills to manufacture Apple products.”
Read more in the full article here.
MacDailyNews Take: Potentially could help Apple avoid some import tariffs.
SEE ALSO:
Foxconn-Sharp considering LCD plant in USA, plans in response to President-elect Trump’s ‘Make in America’ call – January 13, 2017
With President Trump soon to take office, Apple looks to boost its ‘Made in America’ credentials – January 10, 2017
Make America Insanely Great Again: Apple seeks to expand Made in USA manufacturing – January 9, 2017
Apple invests $1 billion in SoftBank’s massive tech fund; may help company get in President Trump’s good graces – January 4, 2017
Apple in talks to invest $1 billion in SoftBank tech fund – December 13, 2016
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 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
50,000 jobs by 20 January 2017? I don’t believe it. Not for a second.
First, it takes time to build a new plant, or even refurbish an old one. That’s six to nine months MINIMUM and likely more than a year Then there is a slow ramp up of personnel.
Second, where are there 50,000 skilled workers, if that many really are needed, to support such a plant?
Third, any new plant will be highly automated or it won’t be cost effective for anyone, not Apple, not Foxconn, not Sharp.
Fourth, Apple is mostly out of the screen business. The only exception is the iMac series. I don’t see Apple getting back into the monitor business anytime soon. Fifth, even the iMacs’ displays are not Sharp displays, they’re LG.
Add all these up and the likelihood of there being a new plant that supports 50,000 new jobs within the next year approaches one over infinity. Not exactly zero, but damn close.
2018.
Well, we can’t wait to hear all about it then botty. Are you going to iCal it?
Like all Trump’s promises, he hasn’t a clue how to make it happen. Foxconn isn’t going to hire 50000 people each of whom cost 20x more in wages than the average Chinese worker. Even if taxes and tariffs were gerrymandered for the benefit of a foreign corporation.
Trump might as well promise 200,000 jobs as long as he’s making wishes.
hide and watch, püssy.
just in case your ears get cold, Mike:
“A skilled worker is any worker who has special skill, training, knowledge, and (usually acquired) ability in their work. A skilled worker may have attended a college, university or technical school. Or, a skilled worker may have learned their skills on the job.”
Where are they? Sitting in front of their television sets watching I Love Lucy.
New jobs likely include the construction jobs and other thousands which will be transitional to help build, and those industries tied to supporting that work. I want to know how many long term good paying ($50,000+) will be created. If you’re not a Boeing where the automation doesn’t work on such large a scale, I don’t see 50,000 jobs UNLESS they intentionally don’t use automation for the specific purpose of creating more jobs. If anyone could shame a company into doing something that’s good for the country though bad for shareholders, its Trump.
Hell,you know it all don’t you? LOL
Tariffs protect non competitive industries and products while increasing costs of those products for consumers. This is what the Republican Party and Milt Friedman have argued for decades. Are Republicans really going to abandon their fundamental belief in fair trade? It looks that way.
Tariffs also protect you from countries that impose uncompetitive restrictions on your products.
Milton Friedman is a genius but his models always assumed two-way free trade; not the one-way trade deals we have been getting.
Duane, the best way to ensure fair trade is to establish global rules that everyone can help enforce. If the USA engages in tit-for-tat trade wars, then China and other unscrupulous nations will just start trading more with other nations, leaving the USA in the cold.
Everyone wants American jobs, but let’s not cut off our nose here. Unilateral trade deals the way Trump proposes to do it is madness. There is a reason that evolved nations have progressed past individual deals. If you want to end dumping, then you need to get the whole world to cooperate.
Also, you may want to talk to WalMart customers about the one-way trade deals that the USA has been getting. Seems to me people love cheap disposable Chinese junk. There is nothing more American than wasteful consumerism of imported plastic crap. That’s what people have CHOSEN to do. What do you think they are going to say when Trump pisses off China enough for them to really engage in retaliatory trade restrictions?
O ye of little faith.
VERY, VERY, VERY LITTLE!
I see all those coal workers back in the mines.
Oh no, sorry, that’s an ALTERNATIVE FACT!
My God man are you that blind (intellectually)?
Day ONE is over where is the replace for ObamaCare?
Oh no, sorry, that’s was another ALTERNATIVE FACT!
This guy really does believe Americans are suckers, why else would he have his press secretary tell such a clear and present lie about a crowd. The lies, they just keep coming.
lol, Boob go masturbate to your Madonna poster.
You are a small man, if a man. The name calling, yes, you and donald are idiots made in russia, not heaven. I guess you are a sexual assaulter as well. You no account trifling traitor. Oh by the way how is your made in the soviet union (which yes no longer exist yet) , russian bride. Well i hope.
Bot: nothing personal, really.
sorry if I hit a nerve, Boob….Madonna is really, really like a virgin.
If your fantasy girl is like a virgin, she must have a leather hymen by now, Boob.
What jobs exactly have been taken by China? Jobs that never previously existed or that originally could not be done at the same scale or cost in the west. Trump (and others) always talk as if these jobs are being taken by workers in countries with directly comparable economies. In the west we’ve been able to get things far cheaper by having poorer countries make them, this has allowed us to consume much more stuff. It’s so simplistic to just say that jobs have been taken, if anything we gave them away to benefit ourselves – however short sighted that might have been. If there was huge demand for homegrown products then more companies would do it, but most consumers then balk at the price.
One example: steel jobs.
The US makes steel but China has been dumping its steel onto our market at below fair value prices to put our steel industry out of business.
I’m completely on board with this, but one question?
In whose backyard will this factory city be located?
We know California won’t allow it. The elitists there aren’t interested in making jobs for the proletariat. But plenty of other states will gladly accept a new 50,000 job factory.
Agreement could be in place 2017.
Factory producing 2018-19.
Building a factory in 1 year is feasible, if they start soon. It seems to me that a lot of events need to happen first. Like Trump providing the incentives and then the investment to be put together.
Once the building starts then the next job will be to find the staff.
The long term challenge is to make it profitable and keep up with the technological advances. It is a very competitive field and constantly changing.
One of the reasons Apple outsource so much is that they don’t have to take care of the production demands. They can switch vendors or manufacturers if needed in a faster time frame than if they owns the facilities.
Missing from the article “HIGHLY AUTOMATED PLANT”
“Could” provide 30-50,000 jobs? Grunt labour on minimum wages is all that’s left….I’ll leave that hanging.
Bob, you’ve been watching CNN again…you believe only half the story and half the facts…the rest is conveniently left out, according to their agenda. I guess you also believe unemployment is 4.5 percent? Those on the beer and cigarette welfare bandwagon aren’t even looking for a job…the numbers are skewed for people like you who believe that junk.
iStepchild, replace “CNN” with any other three letters and what you say will still hold true. All reporters are lazy and now they are prould to be openly biased. Their object is not to present a complete picture, but to shock and awe you into outrage into becoming dependent on what their advertisers are selling you. The best way to control the sheeple is to make them afraid. That is why Conway and Co provide “alternate facts” — it’s easy to manipulate those who are so afraid the world is falling apart that they will believe the conman who promises to fix it (but not how, when, where, and for what cost).
As for beer and cigarettes — yes, both lead to low productivity. Is Trump going to tax them to oblivion to pay for all his unfunded promises? What do they have to do with welfare? Seems like the microbrewery boom in the USA is funded by people with quite well paying jobs. Cigarettes are funded by people who failed health class in elementary school.
😰😭😭😭 the microagressors need to wake up! Stop the micfoagression 😭😭😭😭😭😭😳