Visy chairman Anthony Pratt pledges to invest almost $8bn in manufacturing in the US to help 'make America great again'
Australian businessman Anthony Pratt has pledged to invest billions of dollars into the United States' manufacturing sector to help "make America great again".
The packaging magnate who owns Visy - a packaging, paper and recycling company - said on Thursday he will inject US$5 billion ($7.8bn) into manufacturing as part of Donald Trump's repeated calls to "reindustrialise" the US, Pratt Industries said.
It would in turn result in an estimated extra 5,000 jobs in "key industrial states" such as Ohio, Michigan, Pennsylvania and Arizona, American outlet Axios first reported.
The announcement was made ahead of the US President's "Invest in America" summit at the White House that will be attended by other major business executives.
'To make America great again, we need to make in America again," Mr Pratt said.
"That's why I'm proud to support the president's call to re-industrialise America and again make the US the manufacturing powerhouse of the world."
Speaking at the White House just after 7am on Thursday, President Trump listed the business leaders who were investing into the US including "friend" Mr Pratt.
"Thank you, thank you Anthony," he said, as the crowd applauded.
The commander in chief then referenced a report he read that the Visy chair is the "richest man in Australia" before asking him if he was.
"Close? I don't like to put you on the spot like that Anthony. But that's pretty good. Thank you very much. That's great, $5 billion," President Trump said.
The leader of the free world has been trying to revive domestic manufacturing, with the number of American workers in the sector plummeting to about 8 per cent.
He introduced sweeping tariffs on imported goods into the US on dozens of countries, including Australia, in hopes companies would manufacture in America.
It comes as the US economy on Wednesday (local time) shrank in the first three months of 2025, raising fears again of a recession and slowing of the economy.
Economists say the contraction has been blamed on the flood of imports into the country as businesses rush to avoid the surging costs from the tariffs.
President Trump argued on social media it was his predecessor's fault.
"This is Biden's Stock Market, not Trump's," he wrote on Truth Social.
"I didn't take over until January 20th. Tariffs will soon start kicking in, and companies are starting to move into the USA in record numbers.
"Our Country will boom, but we have to get rid of the Biden 'Overhang. This will take a while, has NOTHING TO DO WITH TARIFFS, only that he left us with bad numbers, but when the boom begins, it will be like no other. BE PATIENT!!!"
Meanwhile, consumer spending, which accounts for two-thirds of the US economy, slowed to 1.8 per cent, which is down on the reported 4 per cent at the end of 2024.
It was supported by outlays on both services and goods, mostly healthcare, housing and nondurable goods.
Most of the growth was in March, with spending surging 0.7 per cent as households pulled forward purchases of motor vehicles, likely to continue into April.
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TAKESHI IWAYA, JAPAN FOREIGN MINISTER: "Amid ongoing diplomatic efforts, including talks between the United States and Iran, to achieve a peaceful resolution of the Iranian nuclear issue, the use of military force is deeply regrettable. "The government strongly condemns this action, which escalates the situation." JAN LIPAVSKY, CZECH FOREIGN MINISTER: "Iran has long failed to meet its obligations to the international community, and is building up its nuclear programme. But at the same time, it has rhetoric that is aimed at destroying the state in Israel. We've seen that twice it has conducted a large-scale state ballistic and drone attack in the last year-and-a-half against Israel along with Hamas and Hezbollah, and it seeks to destroy the state of Israel. "So I have a great deal of understanding for... military action to deter the production of a nuclear bomb in the region." 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We've seen that twice it has conducted a large-scale state ballistic and drone attack in the last year-and-a-half against Israel along with Hamas and Hezbollah, and it seeks to destroy the state of Israel. "So I have a great deal of understanding for... military action to deter the production of a nuclear bomb in the region." SAUDI ARABIA: "Saudi Arabia expresses its strong condemnation and denunciation of the blatant Israeli aggressions against the brotherly Islamic Republic of Iran, which undermine its sovereignty and security and constitute a clear violation of international laws and norms." World leaders have reacted to Israel's large-scale strike on Iranian targets, with the UN secretary-general urging both sides to show maximum restraint. BENJAMIN NETANYAHU, ISRAELI PRIME MINISTER: "We are at a decisive moment in Israel's history. "Moments ago, Israel launched Operation Rising Lion, a targeted military operation to roll back the Iranian threat to Israel's very survival. This operation will continue for as many days as it takes to remove this threat." AYATOLLAH ALI KHAMENEI, IRAN'S SUPREME LEADER: "The Zionist regime has committed a crime in our dear country today at dawn with its satanic, bloodstained hands. "That regime should anticipate a severe punishment. By God's grace, the powerful arm of the Islamic Republic's Armed Forces won't let them go unpunished." "With this crime, the Zionist regime has prepared for itself a bitter, painful fate, which it will definitely see." MARCO RUBIO, US SECRETARY OF STATE: "Tonight, Israel took unilateral action against Iran. We are not involved in strikes against Iran and our top priority is protecting American forces in the region. "Let me be clear: Iran should not target U.S. interests or personnel." SPOKESPERSON FOR UN SECRETARY-GENERAL ANTONIO GUTERRES: "The Secretary-General condemns any military escalation in the Middle East. He is particularly concerned by Israeli attacks on nuclear installations in Iran while talks between Iran and the United States on the status of Iran's nuclear programme are underway. "The Secretary-General asks both sides to show maximum restraint, avoiding at all costs a descent into deeper conflict, a situation that the region can hardly afford." OMAN, WHICH IS MEDIATING IRAN-US NUCLEAR TALKS: "Oman considers this act a dangerous, reckless escalation, representing a flagrant violation of the United Nations Charter, the principles of international law. Such aggressive, persistent behaviour is unacceptable and further destabilizes the regional peace and security." "The Sultanate of Oman holds Israel responsible for this escalation and its consequences, and calls upon the international community to adopt a firm and unequivocal stance to halt this dangerous course of action." MARK RUTTE, NATO SECRETARY-GENERAL: "This was a unilateral action by Israel. So I think it is crucial for many allies, including the United States, to work as we speak to de-escalate." RAFAEL GROSSI, HEAD OF INTERNATIONAL ATOMIC ENERGY AGENCY: "I call on all parties to exercise maximum restraint to avoid further escalation. I reiterate that any military action that jeopardises the safety and security of nuclear facilities risks grave consequences for the people of Iran, the region, and beyond. "I have indicated to the respective authorities my readiness to travel at the earliest to assess the situation and ensure safety, security and non-proliferation in Iran." FRIEDRICH MERZ, GERMAN CHANCELLOR: "We call on both sides to refrain from steps that could lead to further escalation and destabilise the entire region." JEAN-NOEL BARROT, FRENCH FOREIGN MINISTER: "We call on all parties to exercise restraint and avoid any escalation that could compromise regional stability. "We have repeatedly expressed our serious concerns regarding Iran's nuclear programme, notably in the resolution recently adopted by the International Atomic Energy Agency (IAEA). We reaffirm Israel's right to defend itself against any attack." LIN JIAN, CHINESE FOREIGN MINISTRY SPOKESPERSON: "China opposes the violation of Iran's sovereignty, security and territorial integrity, opposes the intensification of contradictions, the expansion of conflicts, and the sudden rise in temperature of the regional situation. "China calls on all parties concerned to do more things that promote regional peace and stability and avoid further escalation of the tense situation. China is willing to play a constructive role in easing the situation." TURKEY Said Israel's provocation shows it "does not want issues to be resolved through diplomatic means" and urged it to halt "aggressive actions that could lead to greater conflicts". KEIR STARMER, UK PRIME MINISTER: "Escalation serves no one in the region. Stability in the Middle East must be the priority and we are engaging partners to de-escalate. Now is the time for restraint, calm and a return to diplomacy." PENNY WONG, AUSTRALIAN FOREIGN MINISTER: "This risks further destabilising a region that is already volatile. We call on all parties to refrain from actions and rhetoric that will further exacerbate tensions. "We all understand the threat of Iran's nuclear and ballistic missile program represents a threat to international peace and security, and we urge the parties to prioritize dialogue and diplomacy." TAKESHI IWAYA, JAPAN FOREIGN MINISTER: "Amid ongoing diplomatic efforts, including talks between the United States and Iran, to achieve a peaceful resolution of the Iranian nuclear issue, the use of military force is deeply regrettable. "The government strongly condemns this action, which escalates the situation." JAN LIPAVSKY, CZECH FOREIGN MINISTER: "Iran has long failed to meet its obligations to the international community, and is building up its nuclear programme. But at the same time, it has rhetoric that is aimed at destroying the state in Israel. We've seen that twice it has conducted a large-scale state ballistic and drone attack in the last year-and-a-half against Israel along with Hamas and Hezbollah, and it seeks to destroy the state of Israel. "So I have a great deal of understanding for... military action to deter the production of a nuclear bomb in the region." SAUDI ARABIA: "Saudi Arabia expresses its strong condemnation and denunciation of the blatant Israeli aggressions against the brotherly Islamic Republic of Iran, which undermine its sovereignty and security and constitute a clear violation of international laws and norms." World leaders have reacted to Israel's large-scale strike on Iranian targets, with the UN secretary-general urging both sides to show maximum restraint. BENJAMIN NETANYAHU, ISRAELI PRIME MINISTER: "We are at a decisive moment in Israel's history. "Moments ago, Israel launched Operation Rising Lion, a targeted military operation to roll back the Iranian threat to Israel's very survival. This operation will continue for as many days as it takes to remove this threat." AYATOLLAH ALI KHAMENEI, IRAN'S SUPREME LEADER: "The Zionist regime has committed a crime in our dear country today at dawn with its satanic, bloodstained hands. "That regime should anticipate a severe punishment. By God's grace, the powerful arm of the Islamic Republic's Armed Forces won't let them go unpunished." "With this crime, the Zionist regime has prepared for itself a bitter, painful fate, which it will definitely see." MARCO RUBIO, US SECRETARY OF STATE: "Tonight, Israel took unilateral action against Iran. We are not involved in strikes against Iran and our top priority is protecting American forces in the region. "Let me be clear: Iran should not target U.S. interests or personnel." SPOKESPERSON FOR UN SECRETARY-GENERAL ANTONIO GUTERRES: "The Secretary-General condemns any military escalation in the Middle East. He is particularly concerned by Israeli attacks on nuclear installations in Iran while talks between Iran and the United States on the status of Iran's nuclear programme are underway. "The Secretary-General asks both sides to show maximum restraint, avoiding at all costs a descent into deeper conflict, a situation that the region can hardly afford." OMAN, WHICH IS MEDIATING IRAN-US NUCLEAR TALKS: "Oman considers this act a dangerous, reckless escalation, representing a flagrant violation of the United Nations Charter, the principles of international law. Such aggressive, persistent behaviour is unacceptable and further destabilizes the regional peace and security." "The Sultanate of Oman holds Israel responsible for this escalation and its consequences, and calls upon the international community to adopt a firm and unequivocal stance to halt this dangerous course of action." MARK RUTTE, NATO SECRETARY-GENERAL: "This was a unilateral action by Israel. So I think it is crucial for many allies, including the United States, to work as we speak to de-escalate." RAFAEL GROSSI, HEAD OF INTERNATIONAL ATOMIC ENERGY AGENCY: "I call on all parties to exercise maximum restraint to avoid further escalation. I reiterate that any military action that jeopardises the safety and security of nuclear facilities risks grave consequences for the people of Iran, the region, and beyond. "I have indicated to the respective authorities my readiness to travel at the earliest to assess the situation and ensure safety, security and non-proliferation in Iran." FRIEDRICH MERZ, GERMAN CHANCELLOR: "We call on both sides to refrain from steps that could lead to further escalation and destabilise the entire region." JEAN-NOEL BARROT, FRENCH FOREIGN MINISTER: "We call on all parties to exercise restraint and avoid any escalation that could compromise regional stability. "We have repeatedly expressed our serious concerns regarding Iran's nuclear programme, notably in the resolution recently adopted by the International Atomic Energy Agency (IAEA). We reaffirm Israel's right to defend itself against any attack." LIN JIAN, CHINESE FOREIGN MINISTRY SPOKESPERSON: "China opposes the violation of Iran's sovereignty, security and territorial integrity, opposes the intensification of contradictions, the expansion of conflicts, and the sudden rise in temperature of the regional situation. "China calls on all parties concerned to do more things that promote regional peace and stability and avoid further escalation of the tense situation. China is willing to play a constructive role in easing the situation." TURKEY Said Israel's provocation shows it "does not want issues to be resolved through diplomatic means" and urged it to halt "aggressive actions that could lead to greater conflicts". KEIR STARMER, UK PRIME MINISTER: "Escalation serves no one in the region. Stability in the Middle East must be the priority and we are engaging partners to de-escalate. Now is the time for restraint, calm and a return to diplomacy." PENNY WONG, AUSTRALIAN FOREIGN MINISTER: "This risks further destabilising a region that is already volatile. We call on all parties to refrain from actions and rhetoric that will further exacerbate tensions. "We all understand the threat of Iran's nuclear and ballistic missile program represents a threat to international peace and security, and we urge the parties to prioritize dialogue and diplomacy." TAKESHI IWAYA, JAPAN FOREIGN MINISTER: "Amid ongoing diplomatic efforts, including talks between the United States and Iran, to achieve a peaceful resolution of the Iranian nuclear issue, the use of military force is deeply regrettable. "The government strongly condemns this action, which escalates the situation." JAN LIPAVSKY, CZECH FOREIGN MINISTER: "Iran has long failed to meet its obligations to the international community, and is building up its nuclear programme. But at the same time, it has rhetoric that is aimed at destroying the state in Israel. We've seen that twice it has conducted a large-scale state ballistic and drone attack in the last year-and-a-half against Israel along with Hamas and Hezbollah, and it seeks to destroy the state of Israel. "So I have a great deal of understanding for... military action to deter the production of a nuclear bomb in the region." SAUDI ARABIA: "Saudi Arabia expresses its strong condemnation and denunciation of the blatant Israeli aggressions against the brotherly Islamic Republic of Iran, which undermine its sovereignty and security and constitute a clear violation of international laws and norms."
