Foxconn in secret talks with Trump

Foxconn, including its grand pooh-bah Terry Gou, had secret talks with the White House presumably looking for sweeteners for a $7 billion plus US investment in a display making plant.

TVBS television showed Gou entering and leaving one of the entry gates of the White House with senior company executives including Tai Jeng-wu, Foxconn vice chairman and chief of Japan’s Sharp, in which Foxconn holds a two-thirds stake.

When asked by reporters on his way out of the White House if he had met US President Donald (Prince of Orange) Trump, Gou responded: “My memory is not good. Maybe I already forget.”

While most people would want to forget three hours in the presence of Trump, it is unlikely and Gou just does not want to talk about it.

Gou had said in January that Foxconn was mulling setting up a display-making plant in the United States with an investment that would exceed $7 billion.

Gou provided the details at the time after Foxconn’s business partner Masayoshi Son, head of Japan’s SoftBank Group, pledged a $50 billion investment in the United States when meeting Trump in December, while accidentally showing materials that had Foxconn’s logo.

The expansion into the United States by several global corporates comes amid Trump’s “America First” efforts to expand US jobs.

While Foxconn has not disclosed a timeline for a decision on going ahead with the plant, it would depend on many factors, such as investment conditions, that would have to be negotiated at the US  state and federal levels, Gou has said.