Speaking during a small business event at the White House on Tuesday, President Trump said Foxconn plans to spend $30 billion investing in a new plant in Wisconsin.

Trump said Foxconn’s chairman Terry Gou told him the new figure, triple the original $10 billion investment originally mentioned was on table for negotiations, in an “off the record” conversation.

The comments follow many months of speculation that Foxconn would build a factory in the U.S. The firm, which helps build iPhones among other consumer electronics, finally announced last week that it is discussing a$10 billion in a state-of-the-art manufacturing facility in Wisconsin that will create 3,000 new jobs.

It’s unclear what drove Foxconn’s decision to triple its investment, assuming President Trump’s remarks are accurate.

CNBC reached out to Foxconn for comment but a spokesperson was not immediately available.

Source

NO COMMENTS