Latest news with #InvestinAmerica
Yahoo
6 days ago
- Business
- Yahoo
High US debt will let bond market ‘run the country': GOP congressman
Rep. David Schweikert (R-Ariz.) said Wednesday that the growing U.S. national debt will make the government more vulnerable to being pressured by the bond market, allowing it to effectively 'run the country.' 'Look, we're on the cusp of deciding that the world debt markets will run the country. I mean, let's be brutally honest. I don't think the equity markets are as good a tell,' Schweikert, who sits on the House Ways and Means Committee, said during The Hill's 'Invest in America' event Wednesday. 'It's bond markets and debt markets,' he added. In recent weeks, some business leaders have expressed similar concerns, stating that the government's budget deficits and rising debt are issues that will rattle bond markets down the line. 'It's a big deal, you know it is a real problem, but one day … the bond markets are going to have a tough time. I don't know if it's six months or six years,' JPMorgan Chase CEO Jamie Dimon said during a Monday interview with Fox Business Network's 'Mornings with Maria.' 'The real focus should be growth, probusiness, proper deregulation, permitting reform, getting rid of blue tape, getting skills in schools, get that growth going — that's the best way,' Dimon said. The bond market has experienced a period of fluctuations since early April as President Trump rolled out his tariffs aimed at both allies and adversaries. Trump's 'big, beautiful bill,' which passed the House last month, has also shaken the financial markets given the trillions of dollars it is expected to add to the debt. Bond traders have grown concerned about the pressure higher U.S. debt could put on interest rates, and Trump has cited bond market turmoil as a reason behind his April decision to ease many of his 'Liberation Day' tariffs. The yield on the 30-year Treasury was north of 5.1 percent last week and was trading around 4.9 percent Wednesday. Schweikert said Wednesday that demographics are the 'driver' of the country's debt. Trump's massive legislative package includes an extension of the president's 2017 tax cuts, although the legislation could add $2.4 trillion to the U.S.'s deficit over the next 10 years, the new estimate from the Congressional Budget Office (CBO) said. Schweikert, a fiscal hawk, voted for the legislation, but he has said that he has concerns about the package. 'I'm intensely concerned that if the term premium on interest rates continues to either stay where it's at right this moment or expand, almost every bit of good we're doing with adding expensing, research and development expensing, many of these things will be consumed in the economy with higher interest rates,' the Arizona Republican said. 'There's this game of, well, 'I need to make people happy right now,'' Schweikert said on Wednesday. 'But the reality of it is, unless you're convincing the bond markets and the fact that how much borrowable money is in the world, when Germany's back in the debt markets, you see what's going on along and under the curve in Japan, China's actually still binging on debt. We seem to be avoidant of big-boy economics.' Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
CNBC
05-05-2025
- Business
- CNBC
Brad Gerstner's market call, where he sees opportunity and what's coming next
BRAD GERSTNER LIVE from the Milken Conference — his bold market call, thoughtful take on Warren Buffett, and why he's backing the Invest in America initiative. Don't miss it!
Axios
29-04-2025
- Business
- Axios
Trump to showcase U.S. investment at White House event with top CEOs
President Trump will host on Wednesday top executives from companies including Nvidia, Johnson & Johnson, Eli Lilly, GE Aerospace and SoftBank, as promotes investment in the U.S., per the White House. Why it matters: The White House regards investment policy as "critical" to U.S. national and economic security, but Axios' Courtenay Brown and Neil Irwin report Trump's tariffs threats have left the country's status as the top global investment magnet in doubt as businesses hit pause. Driving the news: Trump will host CEOs and industry leaders who've committed to investing at the U.S. at the "Invest in America" event, Bloomberg first reported. The event is designed to attract more investors as it highlights investments so far, a White House official said. Zoom in: Among these investment pledges are the United Arab Emirates' commitment to a 10-year, $1.4 trillion investment framework in the U.S. Trump announced soon after taking office commitments from OpenAI, SoftBank, Oracle and the UAE's MGX to invest in AI infrastructure for OpenAI in the U.S. Johnson & Johnson has pledged to spend $55 billion in the U.S. over the next four years on manufacturing, research and technology investments. And Taiwan Semiconductor Manufacturing Co. said it will invest an additional $100 billion in U.S. chips production. What they're saying: "President Trump has secured more investments in the United States of America in 100 days than Joe Biden did in four years," White House press secretary Karoline Leavitt said in an emailed statement Monday evening. "President Trump is America's businessman in chief and that's why more than $5.3 trillion dollars have flooded our country bringing new jobs and investments to middle-class communities from coast to coast."
Straits Times
28-04-2025
- Business
- Straits Times
Nvidia, Eli Lilly among CEOs to tout US investments with Trump
Companies and investment funds have been invited to attend and have their products on display in the residence's foyer. PHOTO: REUTERS Chief executive officers from Nvidia, Johnson & Johnson, Eli Lilly & Co, General Electric Co and SoftBank Group are among corporate leaders slated to visit the White House on April 30 as President Donald Trump highlights the US investments they've announced in the first 100 days of his second term in office. Companies from defence, tech, healthcare and consumer products industries as well as investment funds have been invited to attend and have their products on display in the residence's foyer, according to a White House official who shared details of the event on the condition of anonymity. Mr Trump, who will be coming off from a Michigan rally the day before, is expected to tout numerous financial commitments his administration has secured from companies, which it estimates at US$2 trillion (S$2.6 trillion) 'President Trump has secured more investments in the United States of America in 100 days than Joe Biden did in four years,' press secretary Karoline Leavitt said in a statement. Economists have questioned whether all the pledged spending – which has often come with a White House press conference and to great acclaim from Mr Trump – will come to fruition. Corporate pledges as of early April amounted to roughly US$1.6 trillion in spending and at least 426,000 jobs promised, according to a Bloomberg analysis of announcements made since Mr Trump's election. That amounts to more than all of the capital spending by companies in the entire S&P 500 in the last calendar year. The event billed as 'Invest in America' comes as major retailers and Wall Street leaders are warning of price increases and fallout from Mr Trump's trade war. The president maintains that implementing the highest US tariffs in more than a century will jump-start domestic manufacturing, but financial markets and businesses have been roiled by the chaotic rollout and uncertainty. Last week, Mr Trump met with executives from Walmart, Home Depot and Target to discuss trade and tariffs. The discussion came amid a flurry of meetings among the White House, companies and countries seeking to negotiate lower trade levies during a 90-day pause in Mr Trump's so-called reciprocal import duties. The Trump administration is considering whether to reduce tariffs targeting the auto industry that are opposed by carmakers, Bloomberg News reported last week. Even before Mr Trump took office, business leaders – domestic and foreign – have sought to court him, including visiting him at his Mar-a-Lago resort in Florida and donating to his inauguration fund. Several of them have appeared with him to tout their US projects. In a January press conference from Mar-a-Lago, Mr Trump unveiled a US$20 billion investment to build new US data centres from Damac Group's Hussain Sajwani. In his second day in office, Mr Trump announced a joint venture between SoftBank, OpenAI and Oracle to fund artificial intelligence infrastructure. Softbank CEO Masayoshi Son is also expected to attend the April 30 event. His officials have also applauded chipmaking giant Nvidia for its pledge to manufacture its AI supercomputers in the US. The company is seeing a US$5.5 billion hit from the administration's move to block it from selling its H20 chip in China. Eli Lilly previously pledged to invest US$27 billion to build four new manufacturing plants, and Johnson & Johnson offered US$55 billion in new investments. International Business Machines announced April 28 that it planned to invest US$150 billion in computing over the next five years. BLOOMBERG Join ST's Telegram channel and get the latest breaking news delivered to you.
