Trump tally: J&J plans $55 billion investment to expand U.S. manufacturing
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Johnson & Johnson will spend $55 billion in the U.S. over the next four years on manufacturing, research and technology investments, the drug giant said Friday.
Why it matters: It's the latest in a series of pledges by big American companies, worth around $1 trillion so far, to expand U.S. manufacturing — a core goal of President Trump's trade war.
Driving the news: J&J said the $55 billion spending plan is a 25% increase in investment over the last four years.
- The company breaks ground Friday on a manufacturing facility in Wilson, North Carolina, to make cancer and other medicines.
- It pledged to build three new facilities, at unspecified locations, and expand other existing sites.
- The new funds will also support research on medications and robotics, and tech investments to speed drug discovery.
What they're saying: "Our increased U.S. investment begins with the ground-breaking of a high-tech facility in North Carolina that will not only add U.S.-based jobs but manufacture cutting-edge medicines to treat patients in America and around the world," CEO Joaquin Duato said in a statement.
Between the lines: J&J said it already has more manufacturing in the U.S. than any other country — a nod to Trump's insistence that big U.S. companies have no reason not to make their products here.
- Having more U.S. manufacturing will be key for drugmakers if Trump goes ahead with threatened April 2 tariffs on pharmaceuticals.
By the numbers: Other big-ticket spending promises in recent weeks include...
- $500 billion from Apple to expand manufacturing and training.
- "Several hundred billion" from Nvidia in electronics manufacturing.
- $27 billion from Eli Lilly for drug manufacturing.
- Reported plans from automakers like Honda to move car production to the U.S. from Mexico.
