Why Foxconn’s CEO Thinks Trump Is Good for American Business
Earlier this year, Taiwan-based electronics manufacturer Foxconn unveiled plans to build a $10 billion TV panel factory in Wisconsin.
The move signified a big win for President Donald Trump, who promised voters that he would focus on reviving the U.S. manufacturing sector.
Trump and Foxconn CEO Terry Gou met four times this year to negotiate the deal. Speaking at the Fortune Global Forum Conference in Guangzhou, China, on Wednesday, the Foxconn chief said Trump is a businessman looking to create jobs for Americans. Foxconn’s planned facility is expected to employ as many as 13,000 people who will manufacture liquid crystal display screens.
“Trump is very forward. If he likes you, he’ll say he likes you. If he doesn’t like you, he’ll tell you he doesn’t like you,” Guo said. “Like me, Trump is a businessman who uses very direct, simple language.”
When the deal was announced in July, Trump called Guo’s commitment “an incredible investment” and was quick to take the credit for it: “In other words, if I didn’t get elected, he definitely would not be spending $10 billion.” Trump also claimed that Gou told him “off the record” his company could invest as much as $30 billion in the U.S.
The Wisconsin legislature has since approved $2.85 billion in tax breaks for Foxconn in relation to the project.
Foxconn has not commented or confirmed the claim.
“When I started my business 43 years ago, the opportunity was given to me by the U.S.,” Gou said on Wednesday. “And now I have this opportunity to return the favor.”