June 29, 2018 / 1:36 AM / in 4 months

Trump says SoftBank's Son increasing U.S. investment

MT. PLEASANT, Wis., June 28 - U.S. President Donald Trump said on Thursday SoftBank Group Corp Chief Executive Masayoshi Son is increasing his investment in the United States to $72 billion, significantly more than the $50 billion he had previously pledged.

“His $50 billion turned out to be $72 billion so far, he’s not finished yet,” Trump said, without providing details.

Trump’s comments came at a groundbreaking ceremony in Wisconsin for a manufacturing facility for Foxconn, the world’s largest electronics contract manufacturer, attended by Son and Foxconn Chairman Terry Gou.

Son made remarks at the event but did not reference the $72 billion figure.

SoftBank was not immediately available to comment.

Foxconn is formally known as Hon Hai Precision Industry Co Ltd.

Reporting by Jeff Mason; Writing by Sam Nussey; Editing by Stephen Coates

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