Trump to tout US investments from Nvidia, J&J, Hyundai, Toyota
WASHINGTON: Chief executive officers and senior executives from Nvidia, Johnson & Johnson, Hyundai Motor, Toyota Motor and SoftBank Group are among the more than two-dozen business leaders slated to visit the White House on Wednesday for an event highlighting US investments, officials told Reuters.
President Donald Trump plans to promote a broad range of investments in the United States in defense, tech, healthcare and consumer products industries and investment funds marking his first 100 days in office at an "Investing in America" event, a White House official told Reuters.
Trump is seeking to encourage US and foreign companies to expand manufacturing in the United States, while he has sparked a global trade war, imposing tariffs on a wide range of countries. Airlines, aerospace firms, automakers and retailers have expressed worries about the impact of tariffs on US manufacturing and sales.
The White House touted investment commitments from Taiwan chipmaker TSMC, Apple, and Roche saying they "demonstrate resounding confidence in the US economy and dollar under this administration."
Some major companies have said they want more details on trade and other government regulations before committing to new investments. Trump has said General Motors is considering a new US$60 billion investment in the United States.
"I need clarity, and then I need consistency," GM CEO Mary Barra said at a Semafor forum last week. "To make those investments and to be good stewards of our owner's capital, I need to understand what the policy is."
Trump has said he is considering granting automakers some relief from new auto tariffs.
In January, he announced a private-sector investment of up to US$500 billion to fund infrastructure for artificial intelligence, aiming to outpace rival nations in the business-critical technology. That is expected to include ChatGPT's creator OpenAI, SoftBank and Oracle.
Last month, South Korea's Hyundai announced a US$21 billion investment in the US at the White House, including a new US$5.8 billion Hyundai Steel plant in Louisiana that will produce over 2.7 million metric tons of steel annually, creating more than 1,400 jobs.
Related Articles
Cars Bikes Trucks Jan 13, 2025 @ 7:56pm
Hyundai, Stellantis, Delta each donating US$1mil to Trump inaugural fund
Corporate Mar 12, 2025 @ 1:43am
TSMC pitched Intel foundry JV to Nvidia, AMD and Broadcom
Corporate Apr 28, 2025 @ 1:54am
China's Huawei develops new AI chip, seeking to match Nvidia, WSJ reports
Corporate Mar 19, 2025 @ 8:17am
Nvidia, Musk's xAI to join Microsoft, BlackRock and MGX to develop AI infrastructure
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
an hour ago
- The Star
U.S. companies delay impact reports with DEI, ESG under attack
NEW YORK, June 6 (Xinhua) -- Nike has joined a growing list of companies that includes JPMorgan Chase & Co., Constellation Brands Inc. and Akamai Technologies Inc. that are either canceling or delaying publication of their so-called sustainability or corporate impact reports for shareholders. "While companies aren't legally obliged to disclose such information, most S&P 500 members did so in 2024," noted Bloomberg News about the change on Friday. For more than a decade, this is usually the time period when companies tout the steps they're taking to lower carbon emissions and improve the diversity, equity and inclusion (DEI) of their businesses, said the report. "Opposition to these reports first surfaced about three years ago when GOP lawmakers and activists began pressing companies to scale back such efforts. And some companies have reacted by taking steps such as scrubbing ESG (environmental, social and governance) and DEI-related words from public documents," it said. The election of President Donald Trump has further empowered the anti-DEI movement. During his first week in the White House, he signed executive orders ending federal diversity programs and restricting gender definition to two sexes, male and female, it added.
The Star
an hour ago
- The Star
Billion-dollar battery plant pauses construction in U.S. amid electric vehicle, tariff uncertainty
NEW YORK, June 6 (Xinhua) -- A Japanese company has halted construction on a 1.6 billion U.S. dollars factory in South Carolina to help make batteries for electric BMWs, citing "policy and market uncertainty," reported The Associated Press on Friday. "While Automotive Energy Supply Corp. (AESC) didn't specify what those problems are, South Carolina's Republican governor said the company is dealing with the potential loss of federal tax breaks for electric vehicle buyers and incentives for EV businesses as well as tariff uncertainties from President Donald Trump's administration," noted the report. "What we're doing is urging caution -- let things play out because all of the these changes are taking place," Governor Henry McMaster said. AESC announced the suspension in construction of its plant in Florence on Thursday. "Due to policy and market uncertainty, we are pausing construction at our South Carolina facility at this time," the company's statement said. AESC promised to restart construction, although it didn't say when, and vowed to meet its commitment to hire 1,600 workers and invest 1.6 billion dollars. The company said it has already invested 1 billion dollars in the Florence plant. The battery maker based in Japan also has facilities in China, the United Kingdom, France, Spain and Germany. In the United States, AESC has a plant in Tennessee and is building one in Kentucky. The statement didn't mention any changes with other plants.
The Star
an hour ago
- The Star
French rabbi tells of two attacks in one week as hate crimes rise
PARIS (Reuters) - A French rabbi was attacked on Friday for the second time in a week, he told Reuters, reflecting a broad rise in hate crimes across France that has included high-profile anti-Semitic assaults. Elie Lemmel said he was sitting at a cafe in the Paris suburb of Neuilly-sur-Seine on Friday when he was hit in the head by a chair. "I found myself on the ground, I immediately felt blood flowing," he said. He was stunned and unsure what exactly had happened, he said, initially thinking something must have fallen from a window or roof, before it occurred to him he had been attacked. "Unfortunately, given my beard and my kippah, I suspected that was probably why, and it's such a shame," he said. Friday's incident follows another in the town of Deauville in Normandy last week, when Lemmel said he was punched in the stomach by an unknown assailant. Lemmel said he was used to "not-so-friendly looks, some unpleasant words, people passing by, spitting on the ground," but had never been physically assaulted before the two attacks. The prosecutor's office in Nanterre said it had opened an investigation into the Neuilly attack for aggravated violence and that a person was being held for questioning. It said it could not provide further details. "This act sickens us," former Prime Minister Gabriel Attal wrote on X regarding Friday's incident involving Lemmel. "Antisemitism, like all forms of hatred, is a deadly poison for our society." Last week, five Jewish institutions were sprayed with green paint in Paris. "I condemn in the strongest possible terms the anti-Semitic attack that targeted a rabbi in Neuilly today. Attacking a person because of their faith is a shame. The increase in anti-religious acts requires the mobilization of everyone," Interior Minister Bruno Retailleau said in a post on X. France has seen a rise in hate crimes. Last year, police recorded an 11% rise in racist, xenophobic or antireligious crimes, according to official data published in March. The figures did not include a breakdown by attacks on different religions. (Reporting by Gabriel Stargardter, Antony Paone, Dominique Vidalon; Editing by Hugh Lawson)
