Apple supplier Foxconn plans U.S. expansion amid President-elect Trump’s Made in America push

“Foxconn Technology Group, which manufactures Apple Inc.’s iPhone and other products, said it is in talks to expand in the U.S.,” Eva Dou and Tripp Mickle report for The Wall Street Journal. “The statement comes amid President-elect Donald Trump’s push for a return of manufacturing to the U.S.”

“Foxconn said the size and scope of its potential U.S. investment hasn’t been determined,” Dou and Mickle report. “‘We can confirm that we are in preliminary discussions regarding a potential investment that would represent an expansion of our current U.S. operations,’ the Taiwanese electronics manufacturer formally known as Hon Hai Precision Industry Co. said Wednesday.”

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

 
“Foxconn’s core business is electronics assembly, and Apple its biggest customer,” Dou and Mickle report. “Foxconn’s statement came a day after Japan’s SoftBank Group Corp. Chief Executive Masayoshi Son met with Mr. Trump in New York and pledged to invest $50 billion in the U.S.That money will be coming from a $100 billion investment fund that Mr. Son began setting up earlier this year with Saudi Arabia’s sovereign-wealth fund and other potential partners. Foxconn’s logo appeared beside SoftBank’s on the piece of paper that Mr. Son held while speaking to reporters after his meeting with Mr. Trump. It wasn’t clear how Foxconn might be involved in Mr. Son’s plans.”

Read more in the full article here.

MacDailyNews Take: So, we do know one thing at least: Two of Apple’s most important partners – SoftBank (which owns ARM Holdings) and Apple product assembler Foxconn are in on this deal to expand in the U.S.

SEE ALSO:
President-elect Trump named TIME’s Person of the Year; tells Apple CEO Cook: ‘It’s my ambition to get Apple to build a great plant, your biggest and your best’ – December 7, 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 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

39 Comments

          1. https://mises.org/blog/myth-half-americans-dont-pay-federal-taxes

            The misconception is that half of Americans do not pay taxes.

            WRONG

            While about half of American households do not pay a federal income tax, about 96% of working Americans pay income or payroll taxes.

            Who doesn’t pay income or payroll taxes? The retired, the infirmed, youth, etc. Those people contribute to society by paying sales taxes, property taxes, use fees, and tariffs of all kinds.

            It is so easy to insult 50% of your fellow Americans by parroting misleading political talking points. It is quite another to understand how and why things are the way they are. As America ages, it’s very predictable that the percentage of people paying income tax SHOULD decrease. The direct income tax was originally envisioned to be limited only to a very small percentage of extreme high income earners. It would be very good if the federal government continued to migrate back to its original funding mechanisms and stop clobbering the middle and working classes with complicated income taxes.

        1. George Soros is a multi-billionaire who does not pay taxes. But since he’s a left-wing non-payer I don’t hear you complaining about him — which makes you nothing more than a lowly hypocrite.

          As of 2014, Forbes lists his net worth at US$23 billion. Why does a liberal – one person – have that much money? If he gave away $22 billion, he could probably survive a rather meager existence on the paltry $1 billion that would be left over.

    1. Will you hold him to any of his promises? Trump has no excuses not to get stuff done, since the entire federal government for the next 2 years will be controlled by a single party. But then, nobody seems to know what the loose cannonball is going to do. He seems to know nothing about the checks and balances of government. At least 1/3 of the BS Trump promised cannot be legally accomplished without congressional approval. The other 2/3 or so, at least according to most economists from all ends of the spectrum, will be extremely difficult to accomplish without completely blowing up the national debt or tanking the economy.

      @ botvinnik: Trump is very much a politician, always has been. Being elected isn’t a qualification for being political. The difference with Trump is that he doesn’t know what he’s doing. On the election path, he insults military officers and say he knows more than the generals. Then he turns around and nominates 3 of them to his cabinet, at least one of whom is technically not approvable without a congressional waiver. Pretty heavy loading toward non-diplomatic solutions to world problems, and none of them have any interest or qualification with economic or tax reforms. So much for tackling the problems of ALL US TAXPAYERS. All of Trump’s bluster will amount to more scamming of the middle class in order to enrich Trump and his few so-called friends. Let’s see if you bother to track Trump’s accomplishments as he lets you down in the future. He’s already punted on putting Hillary up on charges. Next he’ll forget about the wall or the unconstitutional religious ban. Should be a turbulent 4 years ahead. Wonder what you guys will say when Trump runs straight into the brick wall called the constitution when he doesn’t get his own way.

        1. WTF are you taking about?

          You go ahead and bring forth any evidence to support ANY democrat elected official supporting hate or violence.

          If you want to see misogyny, blame, and hate, that would be Trump to a T. In the face of racial and false religious insults, Obama has been one of the more respectful and dignified presidents. Even the Reagans and Bushes, though fiscally disastrous, were fee from the irrational and disgusting hate rhetoric that has surfaced in the last decade and which Trump used to propel himself into the White House. was a Trump is in the process of nominating cabinet members that have been removed from congressional committees due to their racist views.

          One can only assume that you consume a steady diet of biased media to train youself to hear out of only your right ear. Try taking in the actual words from the officials themselves rather than the out-of-context narratives that sensationalist extremist media bleats out.

      1. They will blame it on Obama! After all, he left the country in much worse shape than his Republican predecessor and did all sorts of other terrible things – like get health care coverage, with no help from the Republicans, for 20M people who did not have it before. By the way, the reason no one is going after Clinton or the foundation is there is nothing to go after. It was all typical bluster from the Cretin.

          1. Rob, the ACA doesn’t give people Cadillac care. It forces insurance companies to provide a minimum standard of preventative care insurance for everyone. In states with lax insurance regulation, the insurance companies used the ACA as an excuse to jack up premiums wherever they could. You can’t blame Obama for that. You can blame the lack of a properly regulated national insurance market for that.

            What is the republican solution? After 6 years of bitching, they have nothing. Nothing but the promise to take insurance away from 20 million Americans and let the balkanized insurance market continue to gouge people.

            Congratulations if you are young and healthy or your employer picks up the tab for your insurance. You feel no pain. If you are a small business or if you have hereditary medical conditions through no fault of your own, you have historically been screwed by insurance companies and now it looks like the republicans want to do it again.

            It is sick to hear ignorant people demand repeal of a health care act that has done more good for more people than any other insurance reform in the last generation. They have no idea how the system works because it’s too complicated and they have been marinated in right wing hate media for so long, they refuse to seek the truth.

            How many of you have actually read information from Health and Human Services instead of taking your talking points from political media?

            Try it, you might actually learn something:
            http://www.hhs.gov/healthcare/facts-and-features/key-features-of-aca/

      2. Come on people!!!!This is an Apple forum. Argue politics somewhere else! I, for one, have had enough politics this past year to last a lifetime.I just got my 13 macBookPro a couple of days ago and love it. I haven’t used the space bar much but I will in time. I really like the keyboard better than any other ones from Apple. I think they really got it right this time.

    2. The “race instigation” you blame on Obama was because a black man dared to become the leader of our nation. A good part of our white population still carries resentment about the end of slavery and this pushed them over the top.

      This is also why so little was accomplished: the Republican Congress made it their number one priority to block everything he tried to do. That had never been so blatantly done before, and I believe that the number one reason was racism.

      1. Congress didn’t stop Obama from surrendering Iraq or putting us $20 trillion in debt.
        And Congress didn’t force Obama to lie about Obamacare dozens of times or lie about Benghazi or lie about Fast and Furious.
        Obama is a lying, losing, anti-American piece of crap and the did that all by himself.

        1. Surrender Iraq to whom? The legitimate government there. Us policy is no different than the Bush administration.

          The debt from foreign wars is all on Bush. The 2008 stimulus spending was authorized by congress and has been paid back with interest.

          Obamacare isn’t as scary as you make it seem, and the shenanigans played by insurance companies could be fixed with modest reforms. Wholesale repeal would be the dumbest thing.

          You can harp on the Bengazi affair and FAF but those are actually small potatoes compared to Reagans Iran Contra corruption, the illegal wars the US perpetrated in Central America, Bush’s use of torture in Gitmo, and other corrupt and disastrous republican events. Patriot Act took away your rights and Bush sent 5000 Americans to die so you can have cheaper oil. Don’t it make you proud? You conveniently forget what disasters Obama had to clean up.

          1. Obama surrendered Iraq to ISIS.
            EVERYBODY expected a new status of forces agreement to be drawn up in Iraq to keep troops there.
            Obama, who always thinks he is the only super genius in the room, precipitously withdrew troops from Iraq on his arbitrary deadline against the advice of military minds who know better about these things than the former community organizer from Illinois.

            Obama was determined to get to the troops out so he could brag about it. He got the troops out. And he went around bragging about it during his 2012 reelection campaign. That’s when he was calling ISIS “a jayvee team” and lying about Benghazi. He had to tell these lies to cover up his ineffectiveness against and surrender to ISIS.

            If Obama were a traitor, I don’t see what he would have done any differently.

            General Mattis, the new nominee for Secretary of Defense knows something that Obama will never understand. He says, “No war is over until the enemy says it’s over. We may think it over, we may declare it over, but in fact, the enemy gets a vote.” Obama is always giving the enemy a vote while he declares a false victory.

  1. “… we are in preliminary discussions regarding a potential investment …”

    That’s not exactly a cast iron guarantee that something massive is definitely going to happen, but it’s certainly an encouraging announcement. The important thing is what actually happens on the ground and that won’t be known for quite a while.

    I’m well used to politicians of all colours making announcements promising jam tomorrow, but when tomorrow dawns, the jam often seems to be missing, is not the sort of jam that we were expecting, or else the jam turns out to be the jam that we already had anyway.

    This is a promising announcement, but it needs to be developed into a detailed proposal and then properly implemented, otherwise it’s merely a photo opportunity and an ephemeral headline..

  2. If Apple begins building ANYTHING in the US in the next four years, you can bet that it is already WELL into the planning stages… and that Trump will claim credit for it.

  3. Instead of concentrating on having Apple get Foxconn to move manufacturing to the US, Trump needs to get Apple to concentrate on getting a new Mac Pro out the door. If Trump can manage that and in turn save Apple from its downward spiral, then he’ll have my next vote.

    1. Trump doesn’t use computers. He tweets from a Samsung phone. Why do you think he knows or cares what Apple does? His only goal is to take credit for whatever they do. It doesn’t matter what it is, Trump will claim credit.

          1. Ha! You’re as computer illiterate as The Donald. Watch as the great orange haired one reneges on every promise he ever uttered. You know, because only politicians say one thing and do the other.

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