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Trump announces SoftBank plans to invest $100bn in US projects

Dec 16, 2024 - theguardian.com
Donald Trump announced a $100 billion investment by the Japanese company SoftBank, claiming it as the first economic success of his anticipated second presidency. The investment, which Trump said would create 100,000 jobs primarily in the AI sector, was presented as a vote of confidence in the U.S. following his election victory. SoftBank's CEO, Masayoshi Son, who previously pledged $50 billion in 2016, doubled the commitment this time, calling Trump a "double-down president." However, there are uncertainties regarding the actual creation of jobs from Son's previous investment and how SoftBank plans to fund the new commitment.

During the announcement at Mar-a-Lago, Trump reiterated his campaign criticisms of the Biden administration's handling of inflation and expressed optimism about future technological growth in the U.S. Son expressed hope for global peace under Trump's leadership, while Trump repeated his intention to broker peace between Russia and Ukraine. When asked about leveraging his relationship with Vladimir Putin to address the situation with Syrian dictator Bashar al-Assad, Trump admitted he had not considered it.

Key takeaways:

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  • Donald Trump announced a $100bn investment by SoftBank, claiming it would create 100,000 jobs in the AI sector during his second presidency.
  • Masayoshi Son, SoftBank's CEO, doubled his previous investment commitment from 2016, citing increased confidence in the U.S. economy under Trump.
  • Trump suggested that Son double the investment to $200bn, to which Son responded with a commitment to make the current investment happen.
  • Trump reiterated his intention to broker a peace deal between Russia and Ukraine, claiming the conflict would not have occurred if he had remained president.
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