Foxconn's announcement makes Trump happy

United States President Donald Trump has expressed happiness over the "great news" that Foxconn said it was going ahead with plans for a major factory in Wisconsin. The Taiwanese electronics giant announced that following a conversation between Trump and Foxconn chief Terry Gou it was "moving forward with our planned construction of a Gen 6 fab facility."

Since this was a reversal from news earlier this week that the company was scaling back its plans to open a factory and create manufacturing jobs, Trump tweeted: "Great news on Foxconn in Wisconsin after my conversation with Terry Gou!"

Earlier, the company said the changing global economic climate roiled by Trump's trade war with China where Foxconn has most of its assembly lines -- prompted it to revise its original plans. However, Foxconn now says it is going ahead after "productive discussions between the White House and the company, and after a personal conversation between President Donald J Trump and Chairman Terry Gou."

"This campus will serve both as an advanced manufacturing facility as well as a hub of high technology innovation for the region," it added. Foxconn stated the decision also was based on a "comprehensive and systematic evaluation to help determine the best fit for our Wisconsin project." Foxconn, officially known as Hon Hai Precision Industry, is the world's largest contract-electronics manufacturer and assembles most of its products in China.

Foxconn, which makes devices and components for a host of major tech firms including Apple, had planned to build a factory producing LCD flat screen televisions and create around 13,000 jobs.