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Foxconn decides not to build Trump's eighth wonder of the world

by on23 April 2021

We were wondering when this would happen

Taiwan electronics manufacturer Foxconn is drastically scaling back a planned $10 billion factory in Wisconsin, which former US President Donald Trump once called "the eighth wonder of the world".

Under a deal with the state of Wisconsin, Foxconn will reduce its planned investment to $672 million from $10 billion and cut the number of new jobs to 1,454 from 13,000.

The Foxconn-Wisconsin deal was first announced to great fanfare at the White House in July 2017, with Trump boasting of it as an example of how his "America First" agenda could revive US tech manufacturing.

For Foxconn, the investment promise was an opportunity for its founder and then chairman, Terry Gou, to build goodwill when Trump's trade policies threatened the company's cash cow: producing Apple's iPhones in China for export to America.

Last modified on 23 April 2021
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