Washington – WASHINGTON (AP) – The economic boom promised by President Donald Trump focuses on the number one: 17 trillion dollars.
This is the sum of the new investments that Trump claims to be born with DefinitionsAnd reduce income tax and A aggression sales Of the executives, funded, fenie technology, Prime ministersAnd the presidents and other rulers. It is supposed to finance $ 17 trillion new factories, new technologies, more jobs, increased income and fastest economic growth.
The president said in a speech last month: “Less than eight months of Trump, we have already secured obligations of $ 17 trillion to come,” the president said in a speech last month. “There was no country like that.”
But based on data from various companies, foreign countries and the White House website, this number appears to be exaggerated, very speculative and much higher than the actual amount. the White House site The total investment is listed for $ 8.8 trillion, although this number appears to be lined with some investment obligations that were made during Joe Biden.
The White House has not yet set up multiple requests on how Trump calculates $ 17 trillion of investment obligations. But the issue goes beyond Trump’s conversation with the belief that the brute force of definitions and shame in companies can provide economic results, a strategy that can go sideways to him politically if the harsh conversation in translation fails to more jobs and income higher.
Only 37 % of adults agree to tackle Trump with the economy, according to September poll By the Associated Press Nork Public Affairs. This decreased from the peak of 56 % in early 2020 during the first period of Trump – a memory that he relied on when the voters flirt with the elections last year.
Adam Bosen, head of the Peterson Institute for International Economy, said that the general obligations announced by Trump are “a meaningful increase” – but it reaches hundreds of billions of dollars, not trillion. Even so, this comes with long -term costs because countries may be less inclined to invest with the United States after threatening to do so.
Bosen said: “It is a mistake in national security because you have turned the allies into some kind colonies – you are forcibly extracted from them things that they do not completely see in their interest.” “The sprain of governments to distort its business arms will not get the return they want.”
The Trump administration is betting that the customs tariff is an effective tool to urge other countries and international investment companies in the United States, a large stick that other departments failed to use. The Trump voter stadium is that it will play a role in managing investment obligations directly by foreign countries – and that allocating those funds that start in the next year will revive what was a goal market.
“The difference between virtual investments and the reasons that are broken in factories and new facilities are good driving and sound policy,” said White House spokesman Kush Disi.
The White House said that Japan will invest a trillion dollars, to a large extent in the direction of Trump. The European Union will adhere to $ 600 billion. The United Arab Emirates has pledged 1.4 trillion dollars over 10 years. Qatar pledged 1.2 trillion dollars. The Kingdom of Saudi Arabia intends to reach 600 billion dollars, India 500 billion dollars and South Korea 450 billion dollars, among others.
The challenge lies in the exact conditions of those investments that have not been fully blocked and released to the public, and some numbers under conflict, and possibly mysterious mathematics or, in the case of Qatar, more than five times the annual GDP of the entire country. The White House confirms that Qatar is useful for money because it produces oil.
South Korea has already concerns about its investment commitment, which is the lowest $ 100 billion, which the White House claims, after immigration agents Hyundai factory raided Under construction in Georgia and arrested the Korean citizens. There are also fears that large investment without a better way to exchange currency with the United States may harm the economy of South Korea.
“From what I saw, these obligations deserve to be the paper that he did not write,” said Jared Bernstein, who was the head of the Economic House of Economists at the White House.
As for the $ 600 billion committed by European companies, this depends on those companies that “expressed their interest” and mentioned “intentions” to do this during the year 2029 instead of public concession, according to the European Union documents.
So far, there has been yet a noticeable batch in investing business as a percentage of US gross domestic product. As a share of the total economy, the commercial investment during the first six months of Trump’s presidency was constantly wore about 14 %, as it was before the epidemic.
But economists also notice that Trump is the double waiver and dependence on the investments that were initially announced during the Biden administration or investments that are likely to occur due to the construction of artificial intelligence.
For example, the White House recounts a $ 16 billion investment by your Computer Chipmaker Global. But from this amount, more than $ 13 billion was announced during the Biden administration and supported 1.6 billion dollars from grants by the Freedom and Science Act 2022, as well as other federal and state incentives.
Likewise, the White House dates back to 200 billion dollars invested by the micron chips, but at least $ 120 billion was announced during the Biden era.
For their part, White House officials are largely attributed to the Trump tariff – such as those on October 1 on kitchen cabinets, large trucks and pharmaceutical drugs – to force companies to investments in the United States, saying that the risk of additional import taxes if states and companies fail and its promise will ensure that the money deposited into the economy.
On Tuesday, the CEO of Pfizer Albert Borla supported this approach yet The pharmaceutical pharmaceutical company received a three -year grace period on the definitions He announced the investments of $ 70 billion in the United States
“The president was completely right,” said Burla. “Definitions are the most powerful tool for motivating behaviors.”
“The definitions played a big role,” Trump added.