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Trump launches into morning tweetstorm praising the economy after Toyota and Mazda announce new $1.6 billion plant
Business Insider8/4/2017 6:15:00 AM

AP Photo/Darron Cummings

President Donald Trump sent out of series of tweets Friday morning praising the US economy, after Toyota and Mazda announced a new $1.6 billion auto manufacturing plant.

"Toyota & Mazda to build a new $1.6B plant here in the U.S.A. and create 4K new American jobs. A great investment in American manufacturing!," Trump tweeted.

The plant will have an annual production capacity of about 300,000 vehicles, according to the Associated Press, and will produce Toyota Corollas for the North American market. Mazda will make cross-over models there that it plans to introduce to North America.

Trump had previously criticized Toyota for taking auto production and jobs to Mexico. The AP notes that with this investment both automakers can hope to prove their good American corporate citizenship and appease the Trump administration's concerns about jobs moving overseas.

In his Friday morning tweets, Trump also highlighted another foreign company's recent investment in the US.

"....and don't forget that Foxconn will be spending up to 10 billion dollars on a top of the line plant/plants in Wisconsin," Trump tweeted.

Foxconn, a giant manufacturer of electronics, like Apple's iPhone, announced last week that it will invest $10 billion to open its first major American factory in Wisconsin. White House officials said the project would create 3,000 jobs.

Wisconsin reportedly offered at least $3 billion in subsidies to Foxconn to entice the Taiwanese company to build the flat-panel screen plant.

The president also talked up the overall US economy, noting the high levels of consumer confidence and previewing tax reform.

"Consumer confidence is at a 16 year high....and for good reason. Much more regulation "busting" to come. Working hard on tax cuts & reform!," Trump tweeted.

Trump also included a tweet about his rally Thursday evening in West Virginia, where former Democratic governor Jim Justice switched parties to become a Republican.

"West Virginia was incredible last night. Crowds and enthusiasm were beyond, GDP at 3%, wow!Dem Governor became a Republican last night," Trump tweeted.

It's worth noting that Trump is talking about West Virginia's GDP, not the US'.

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