Trump administration logs record foreign investment
The SelectUSA program has brought in some $280 billion.
The Commerce Department's SelectUSA program has recorded a record-breaking level of foreign direct investment during President Donald Trump's administration, surpassing the cumulative efforts of the previous dozen years, according to officials speaking to Semafor. The program, established in 2011, has attracted a staggering $280 billion from multinational corporations such as Singapore's Bitdeer, Australia's Graphinex, Belgium's UCB, South Korea's Korea Zinc, and Japan's Isuzu Motors, across more than 345 projects.
The total foreign direct investment previously amounted to $255 billion. Assistant Commerce Secretary David Fogel attributed the surge to the administration's initiatives to reduce regulations, lower taxes, and the strategic use of tariffs, which have sometimes strained relations with trading partners. Fogel stated to Semafor that employing tariffs as leverage to secure investment commitments from foreign nations is part of the administration's agenda.
As the midterms are less than three weeks away, Fogel emphasized that the achievement represents a "promise [to voters] kept," as Trump campaigned on a pro-worker agenda, and the administration is now delivering on that promise with these record-breaking numbers.
Written by urgent.news from Semafor's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
