Protectionism pay-off in sight for Donald Trump as Samsung considers US plant
US President Donald Trump was today closing in on a victory for his protectionist policies, as Samsung confirmed it was considering building a plant in the US.
The South Korean company, which currently makes TVs, fridges and other appliances in Mexico, said plans for a similar facility across the border were “in the evaluation stage”, it was reported.
It would not say whether Trump’s policies were behind the deliberations, but Trump thanked Samsung in a tweet, adding: “We would love to have you!”
LG Electronics is also debating building a US factory.
Meanwhile, deputy Bank of England governor Ben Broadbent claimed Trump’s presidency had boosted the UK economy.
His arrival in the White House with pledges to cut taxes and hike infrastructure spending had lifted business confidence, Broadbent told the BBC.
He acknowledged some other proposals had sparked concern but said: “So far… it’s been positive for global sentiment, and for that reason, and to that extent, for us as well.”
