A result of Trump’s push for more US production?
Samsung is thinking of building a new plant in the US for home appliances.
Samsung already makes chips in Austin Texas, and another US plant could be seen as an effort to gain favour with the Trump Administration, which has emphasized increasing manufacturing in the United States.
If currying favour with Trump was Samsung’s goal, it appears they succeeded:
— Donald J. Trump (@realDonaldTrump) February 2, 2017
Trump’s tweet points to the challenging environment business are navigating as the new US administration takes office.
Having won on a platform of punishing companies that manufacture outside the United States and then sell products back into the country, Trump is now emboldened to seek concessions from major corporations who are still desperate to have open access to the US market.
The pressure exerted by Trump’s tweets – where he condemns companies manufacturing elsewhere, while praising those moving production to the US – has had a noticeable effect.
Ford cancelled a plant in Mexico that was already underway, and many other companies, including Fiat-Chrysler, have either announced plans for more US production, or re-announced old plans to get credit and positive headlines in the new era.
Photo – Twitter