Hyundai's $2.1 Billion Investment Mentioned First
Blames Previous Administration for Negative Growth...
Highlights Effectiveness of His Own Policies
According to Yonhap News, citing foreign media sources, US President Donald Trump invited the chief executive officers (CEOs) of major companies that announced investments in the United States to the White House, praised them, and claimed that his tariff policies are proving effective. On April 30 (local time), the White House hosted an 'Invest in America' event attended by more than 20 global company CEOs.
According to the report, President Trump stated at the event, "The companies attending today have collectively announced new investments in the United States totaling over $2 trillion," adding, "In total, including other companies, this amounts to $8 trillion, which is unprecedented in American history."
Regarding the negative growth of the gross domestic product (GDP) in the first quarter, he said, "That is the fault of the previous Biden administration," and continued, "We took office on January 20, and I think you should give us a little more time." He further claimed, "Core GDP, which excludes distortions such as imports, inventories, and government spending, rose by 3%."
He emphasized his claim that his policies, including tariffs, are succeeding, stating, "If you look at the previous administration, they probably attracted less than $1 trillion in investment."
President Trump said, "Every new investment, new factory, and new job created is a signal that the US economy is strong and a declaration of confidence in America's future." He added, "Even Samsung, whose name was not mentioned here today, reportedly announced this morning that it will build a very large factory to overcome tariffs."
President Trump was the first to mention Jose Munoz, President of Hyundai Motor Company, among the CEOs present, saying, "Thank you." He referred to Hyundai's $2.1 billion (about 3 trillion won) investment announced at the White House last month and the resulting job creation from the steel plant being built in Louisiana as part of that investment, and reiterated, "Jose, thank you, beautiful." In response, Munoz, seated in the audience, stood up and waved in greeting.
President Trump then mentioned each attending company, including Nvidia, Johnson & Johnson, Eli Lilly, General Electric (GE), SoftBank, and Toyota Motor Corporation, had the CEOs stand up, highlighted their investment achievements, and offered praise such as "Thank you," "Amazing," and "Fantastic."
Before introducing the companies, President Trump pointed to the front row of the audience, where cabinet members including Secretary of Commerce Howard Lutnick were seated, and said, "You should have given those seats to the business leaders. We want their money."
In response, the CEOs of GE, Nvidia, and SoftBank came to the podium to comment on President Trump's leadership.
Jensen Huang, CEO of Nvidia, said, "We will build everything in the United States to advance Nvidia's technology to the next generation," adding, "Without President Trump's leadership, policies, support, and strong encouragement, manufacturing in the United States could not have developed at such a rapid pace."
Masayoshi Son, Chairman of SoftBank, referring to the $500 billion (about 710 trillion won) investment plan announced jointly with OpenAI and Oracle, said, "This is the largest investment in US history and the largest infrastructure investment for artificial intelligence (AI)," emphasizing, "The United States must continue to maintain leadership in AI."
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