President Donald Trump is adding to a long list of bringing back major job growth to the U.S. as he promised during the campaign.
Amazingly, Trump’s influence is indirect because major companies are banking on America because of his very presence in the Oval Office.
That’s why Samsung just announced a major investment in expanding its production in the United States this week.
According to Breitbart:
“The initial capital investment will total close to $300 million and will involve shifting some production from Mexico to the United States. The sources claim that the move could generate around 500 jobs.
The decision to move production to the United States was influenced by President Trump after he campaigned to move manufacturing jobs for products bought in the United States from overseas into this country.
The tech giant has engaged in initial discussions with several states, including Alabama, Georgia, North Carolina, Ohio and South Carolina.
According to the sources, South Carolina is likely one of the strongest contenders for a Samsung manufacturing plant, which could specifically be located in Blythewood, S.C.
Samsung Vice Chairman Lee Jae-yong attended a meeting in December at Trump Tower with the then president-elect. Since that time, several large firms based in Asia have agreed to expand operations or invested into the United States.”
Although, one can point to meetings with the owners and CEOs of global companies that Trump was having at his Trump Towers in New York while he was President-elect as a direct influence in creating job growth.
Direct meetings with the future president were what pushed their investments in the U.S. economy over the edge.
But all you have to do is look at the record-breaking stock market as the most obvious indicator companies have faith in Trump’s business experience and prowess.
Yahoo’s Lulu Chang of Digital Trends echoed the notion of Trump’s effect on global business trends that have changed since his November 8th win.
According to Yahoo News:
The confirmation came at a media event at which Samsung debuted its newest premium washing machine known as the ‘Flex Wash.’
At the unveiling, Suh Byung-sam, executive vice president of the digital appliances business of the consumer electronics division at Samsung, noted that the electronics maker is ‘seriously reviewing’ its options.
“The company is observing recent global trends in order to enhance competitiveness abroad,” Suh said.
Should Samsung indeed move a portion of its manufacturing process to the U.S., it could mean an increase in production of refrigerators, washers, dryers, and other home appliances, which could result in Samsung pouring more money into the country.
The company says, “This is a complex process that, like all strategic business decisions, will not be made final until it is determined through proper due diligence and planning that it is the best option for Samsung.”
Samsung is by no means the only South Korean company looking to expand its operations in the U.S. Just last week, LG announced plans to build a new homeappliance manufacturing factory in Tennessee.
And it looks like Samsung is feeling the pressure to follow suit.
It’s amazing that Trump’s very presence as the leader of the free world has given business owners and company CEOs a newfound confidence to invest in the greatest country in the world’s economy.