Despite the almost constant criticism from the media and their friends on the left, President Trump continues to roll right along with his agenda to revitalize the American economy, bring jobs back to the United States, and now he’s even gotten China to make some concessions in their trade deals with us.
On Monday, Toyota announced that it would be spending $1.3 BILLION on a plant in Georgetown, Kentucky. Moreover, this investment is just the beginning in a planned $10 BILLION spending spree that will see the Japanese company spending investment dollars across the country.
“This $1.33 billion investment is part of Toyota’s plan to invest $10 billion dollars in the U.S. over the next five years, on top of the nearly $22 billion Toyota has invested in the U.S. over the past 60 years,” said Jim Lentz, CEO of Toyota Motor North America. “Toyota New Global Architecture is about exciting, ever-better vehicles for our customers as it will improve performance of all models, including increased fuel efficiency, more responsive handling, and a more stable, comfortable feel while driving”…
“This is the largest investment in our plant’s history and it speaks directly to the quality of our people and our products, as well as the partnerships we’ve forged in the local community and across the state,” said Wil James, president, Toyota Motor Manufacturing, Kentucky, Inc. (TMMK). “This major overhaul will enable the plant to stay flexible and competitive, further cementing our presence in Kentucky.”
President Trump and Kentucky’s GOP leaders all hailed the move as one that will not only brighten Kentucky’s economic future but will pay dividends for the entire nation as well.
“Toyota’s decision to invest $1.3 billion in their Kentucky plant is further evidence that manufacturers are now confident that the economic climate has greatly improved under my administration and echoes the recent National Association of Manufacturers’ 2017 Outlook Survey showing that 93% of manufacturers are now optimistic, which is an increase of 37% from just a few months ago,” President Trump said when announcing the move.
However, Toyota’s investment in Kentucky isn’t the only good economic news this morning. Word has leaked that China has offered to make several minor concessions to President Trump in the hope of avoiding a trade war with the USA. While the concessions may be “minor” there is reason to be optimistic as this represents a “starting point” in trade negotiations with the nation of more than 1.3 Billion people.
The Financial Times reported China offered to drop the ban on American beef, in place since 2003, and offered to allow foreigners to have majority stakes in Chinese investment and securities companies.
The former concession from the Chinese would allow American cattle producers to have access to a massive new market, while the Financial Times reported the latter is something that was discussed under former President Barack Obama but was received positively by Trump last week.
Again, while the concessions may be small they do represent better terms than we currently enjoy in our trade relationship and they also point to the possibility that an even more beneficial trade deal may be negotiated in the near future.
The world is a dark and dangerous place, but we should be reminded that there are many reasons for Americans to remain hopeful for our future.