Trump Says Apple & FoxConn Will
Manufacture iPhones in Wisconsin
Ping!
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Posted on 01/16/2018 9:54:23 PM PST by Swordmaker
President Donald Trump sat down for an interview Thursday morning with four reporters from The Wall Street Journal: Rebecca Ballhaus, Michael C. Bender, Peter Nicholas and Louise Radnofsky. White House attendees included Communications Director Hope Hicks, Press Secretary Sarah Huckabee Sanders and Director of the National Economic Council Gary Cohn.
One portion of the interview involved Apple, Foxconn, and iPhone manufacturing:
WSJ: Is there a possibility that Donald Trump could sign a comprehensive immigration bill which would provide a path to legal status, citizenship for 11 million people who are here illegally?
Mr. Trump: Well, I’m not talking amnesty at all. I’m not talking amnesty at all, that’s the other thing. No, I think my base is with me. My base feels that these 800,000 young people should not be thrown out of the country, OK? My base is with me and now I you know; and I think my base actually gets bigger.
And I’m not doing it because of the base or anything else, I’m doing it from the standpoint of heart, I’m doing it from the standpoint of common sense. I’m doing it from another standpoint too. You have a lot of people of those 800, they work hard, they have jobs. We need workers in this country; we need people to come in and work because I have a lot of companies moving in.
And I’m getting a lot of questions like we want to move to Wisconsin, we wanted — like Wisconsin, I have Foxconn coming to Wisconsin; that’s my deal. You know the head of Foxconn, you know he’s a friend of mine. He’s still only moving there because of me. And the governor has been fantastic.
The governor of Wisconsin has been fantastic in their presentations and everything else. But I’m the one who got them to look at it. Now we need people because they’re going to have thousands of people working it’s going to be a — you know — that’s the company that makes the Apple iPhone.
WSJ: Yeah.
Mr. Trump: Is that — they’re going to build them here, they’re going to build other things here, too.
Read more in the full interview here.
Really?
iPhones from Wisconsin?
???
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FoxConn is building factories there.
I’m almost speechless.
If true, this is quite remarkable.
Why? it's just a continuation of the move that Apple started back in 2011. Apple already manufactures Mac Pro computers in Austin, Texas, and assembles iMacs in Elk Grove, California, about twelve miles away from where I live. iPhones are also already being assembled in Brazil and India.
The Mac Pro, and iMacs are it seems to me, more specialized.
If Apple is really moving production of regular iPhones to Wisconsin. Just average, regular, everyday iPhones, I might just need to consider getting an iPhone.
We will see, but that is remarkable. For real.
If true. Wow.
Because of tax cuts, Apple is repatriating over $200 Billion.
President Trump:
“I think my base is with me. My base feels that these 800,000 young people should not be thrown out of the country, OK?”
Well, at least we still have the “Voter Fraud” excuse if Trump gets crushed in 2020.
It is not only repatriation. It is also a five year period that allows for immediate expensing. That means that a company can repatriate $20 million, billion gazillion and invest that entire amount in new plant and equipment and actually pay ZERO, NO TAXES AT ALL, on the repatriated funds. The reason why is that for every new piece of equipment that used to take years or even decades to depreciate and expense can be 100% expensed from DAY ONE> this is just any other write off.
To not repatriate funds and use them for retooling or investment in new plants would be to pay taxes on it.
That is why Chrysler has moved plant and production out of Mexico to Michigan and why so many other companies will be looking for Green Space and even Brown Space in order to increase their production capacity. They also want to move out of China as much U.S Bound production as possible since they can smell a trade war. At least a trade skirmish. One they know China can not win.
The economy will be growing at 5% by this time next year if Republicans keep the House and Senate. Maybe sooner. It will be around 4% 4th QTR 2016 and 4.5% 3rd QTR 2018 to 5% QTR 1 2019. This economy is about to explode!
If he gets the Wall and ends Chain Migration, Visa lottery, Merit based and limits on future immigration he can give DACA kids visa’s without citizenship. No one will squawk too much about that.
The Wall must be first.
I think they’ll be making LCD panels.
It ain’t 11 million, and they all have to go.
But boy, are these devices, and not just Apple, getting crazy expensive. My great-grandmother lived to be 99 and I knew her a little as a child, my grandfather was a child of the depression and they both saved, scrounged, wore it out, made do and did without as a matter of course. I feel kind of ashamed when I lust after fancy gadgets. Almost like I can hear them laughing at me.
So much winning!
Not quite true. There is a tax differential between money that is merely brought back and banked here which is taxed at 21%, and money that is brought back and invested in new plant and equipment which can be taxed as low as 15% down to 5% depending on how it is used. Repatriated funds are never taxed at ZERO percent.
To not repatriate funds and use them for retooling or investment in new plants would be to pay taxes on it.
And, no, there is now a tax on keeping funds off shore for companies that are headquartered here.
The plants where Ford makes cars are also called assembly plants. But most of us would say that Ford manufactures cars in the plant, even though engines, transmissions, wheels, tires, alternators, starters, etc. all come from widely disparate places. If an alternator from Taiwan goes into a car assembled in Detroit, is it still an American car?
To me, the term just means that sub-components, some made elsewhere, are assembled into a complete unit in the plant.
It is no secret that Apple buys many subcomponents for iPhones from other suppliers. Arch-rival Samsung makes the displays for iPhones.
This is pretty standard for almost every complex modern product, or even simple products.
Because of tax cuts, Apple is repatriating over $200 Billion.
The Prez sez, “Thanks for your help, Scott Walker”
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