It didn’t take long after the election for the winning Donald Trump promised to begin.Just a few days following his historic victory, the markets rallied to all-time highs. From there, Trump used his legendary ability to negotiate when he made a deal that kept American manufacturing jobs from moving overseas. To top it off, he secured a $50 billion investment in the U.S. from a Japanese company.
Of course, all of this was before he even stepped foot in the Oval Office. And if you thought the winning would eventually stop, you’d be dead wrong. Despite reaching record highs already, the stock market continues to make historic gains. Not surprisingly, the first month of Trump’s presidency saw a surge in jobs growth.One major company has noticed the economic surge, and now has plans to relocate jobs from Mexico to the United States.
From Fox News:
Samsung Electronics is planning to move hundreds of manufacturing jobs currently operating in Mexico to the United States, the Wall Street Journal reported.Citing several sources, the Journal said Samsung, known best as a cellular phone manufacturer, is in talks to move 500 of its range manufacturing jobs northward in a yet-to-be-determined time frame.
Although 500 jobs may not seem like a lot, it’s yet another indicator of how confident companies are feeling about the American economy under President Trump. Moreover, the company has signaled that this might only be the beginning:
Though no commitment has been reached, if Samsung successfully moves those jobs to the United States, they may also choose to shift other appliance production lines.Those products would include the company’s washers, dryers and refrigerators.
Perhaps unsurprisingly, Samsung cited Trump’s policies as the reason for the move:
The corporation’s consideration for a move to America was influenced by President Donald Trump’s overtures toward businesses willing to help revitalize blue-collar industries, the Journal reported.After eight years of tepid economic growth, Trump promised to completely revitalize the American economy. As a successful businessman, he came into office with an understanding of the kind of economic climate that is necessary for businesses to thrive. So far, President Trump has done nothing but deliver on his promise.
[Note: This story was authored by Michael Lee. Follow him on Twitter @UAMichaelLee]