President Trump and Foxconn Chairman Terry Gou at groundbreaking in. Wisconsin. Photo: Brendan Smialowski/AFP via Getty Images

Taiwanese electronics company Foxconn is reconsidering its plans to manufacture flatscreen panels at a $10 billion Wisconsin plant that promised to bring in 13,000 jobs, Reuters reports.

Why it matters: Foxconn's 2017 pledge to build the plant, which drew billions of dollars in subsidies from state taxpayers, has been touted by President Trump as one of the largest manufacturing investments by a foreign-based company in U.S. history. A Foxconn representative told Reuters that steep labor costs at the Wisconsin plant would make it impossible to compete with manufacturers outside the U.S., and that three-quarters of the plant's eventual jobs will be in research and design — rather than "blue-collar manufacturing jobs."

The big picture: The change in plans comes as demand for Apple's iPhone and other smartphones — many of which are manufactured by Foxconn — is dipping as a result of a weakening Chinese economy, the U.S.-China trade war and other factors. As the Philly Inquirer's Joseph DiStefano also notes, "Foxconn has been the subject of several stories touting astronomical sums of future investment, none of which have come to pass."

  • These include $100 million-to-$1 billion investments the company has pledged, and later reneged on, in Brazil, Vietnam, Indonesia, Colorado, Louisiana and four other states, according to the Inquirer.

Go deeper: Corporations are fleeing global chaos

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Ousted former U.S. attorney for SDNY to testify before House Judiciary Committee

Berman in October 2019 in New York City. Photo: Johannes Eisele/AFP via Getty Images

Geoffrey Berman, the former U.S. attorney for the Southern District of New York, is scheduled to testify to the House Judiciary Committee next week on the circumstances of his forced resignation, Politico reports, citing a congressional aide.

Why it matters: As the top federal prosecutor in Manhattan, Berman oversaw high-profile cases that worried and angered President Trump and his inner circle, including an investigation into his personal lawyer Rudy Giuliani. His removal has added to allegations by Democrats that Attorney General Bill Barr has politicized the Justice Department under President Trump.

Stimulus outlook takes a hit even as coronavirus cases skyrocket

Data: Bureau of Labor Statistics; Chart: Axios Visuals

The pandemic is getting worse, and the question is whether the economic recovery will go with it.

Why it matters: America adding 7.5 million jobs over the last two months pales in comparison to 20+ million lost over the two months prior.

3 hours ago - Health

Texas governor mandates face masks in public spaces

Photo: Mario Tama/Getty Images

Texas Gov. Greg Abbott (R) issued an executive order Thursday requiring all Texans to wear a face covering in public in counties with 20 or more positive coronavirus cases.

Why it matters: It's a dramatic reversal by the Republican governor that underscores the severity of the outbreak in Texas, which set a single-day record on Wednesday with more than 8,000 confirmed new cases. On June 3, Abbott issued an executive order banning local governments from imposing fines on people who don't wear masks in public.