When Donald Trump won the election in November, it didn’t take long for better economic news to start pouring in. Just two days after his victory, markets started a sustained rally, and have continued to reach historic highs. From there, optimism among America’s business leaders surged with renewed confidence.
Since taking office, Trump has accelerated his work to improve the economy. Just a few days into his presidency, Trump issued an executive order that slashed growth-hindering regulations. Predictably, it didn’t take long for the changes to yield promising results. In just a few months, job growth has continued to outpace expectations while participation in the food stamps program plummeted.
Of course, there is still more work to be done. With Congress still trying to pass healthcare reform, growth-accelerating tax cuts have yet to be implemented. Even so, the good news continues to roll in. In fact, the White House may be readying to make yet another major economic announcement.
Apple-supplier Foxconn will announce a plant in Wisconsin on Wednesday evening, accompanied by President Donald Trump, and Wisconsin Gov. Scott Walker, a source with knowledge of the announcement told CNBC.
U.S. House Speaker Paul Ryan, R-Wisc., will also be present at the Wednesday evening announcement in Washington D.C., a source said. No exact location for plant has been chosen, but southeast Wisconsin is under consideration, according to a source.
The news comes shortly after Trump applied pressure on Apple to create jobs here at home:
The announcement would come on the heels of a Wall Street Journal interview with Trump, where he said he had spoken to Apple CEO Tim Cook about three U.S. factories. Apple has yet to comment on Trump’s remarks. Cook told Jim Cramer on CNBC’s “Mad Money” in May it would start a $1 billion fund to promote advanced manufacturing jobs in the United States.
On the campaign, Trump made bringing the manufacturing jobs of the future to our shores a cornerstone of his agenda. However, eight years of failed economic policies made bringing those jobs here a tough prospect. But as a successful businessman himself, Trump knows the kind of economic climate necessary to create jobs. So far, that knowledge seems to be paying dividends.
[Note: This post was authored by Michael Lee. Follow him on Twitter @UAMichaelLee]