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Donald Trump’s “eighth wonder of the world” shrinks from $10 billion to $674 million

Summary:
Article from Reuters, “Foxconn mostly abandons billion Wisconsin project touted by Trump”: Under a deal with the state of Wisconsin announced on Tuesday, Foxconn will reduce its planned investment to 2 million from 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 U.S. tech manufacturing. My discussion in 2017, citing Legislative Fiscal Bureau assessment, here. Formal modeling of possible economic impacts from CROWE in 2017, and critical assessment by Mercatus of the package here. And, all of us are wondering – where is Scott Walker?

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Article from Reuters, “Foxconn mostly abandons $10 billion Wisconsin project touted by Trump”:

Under a deal with the state of Wisconsin announced on Tuesday, 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 U.S. tech manufacturing.

My discussion in 2017, citing Legislative Fiscal Bureau assessment, here. Formal modeling of possible economic impacts from CROWE in 2017, and critical assessment by Mercatus of the package here.

And, all of us are wondering – where is Scott Walker?

Menzie Chinn
He is Professor of Public Affairs and Economics at the University of Wisconsin, Madison

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