Exclusive: North Carolina governor's trip to Japan, Taiwan clouded by business uncertainty
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Gov. Josh Stein is back in North Carolina after spending last week in Asia trying to recruit companies to the state.
Why it matters: The delegation spent time in Tokyo and Taiwan at a time when the U.S. is using high tariffs to try to muscle international companies into investing here.
The big picture: The 51-person delegation sat down with individual businesses and industry groups, and Stein told Axios in an exclusive interview Monday that while there's nothing to announce yet, there were "lots of productive meetings."
- Pharmaceutical companies, electric vehicle battery manufacturers and food processing companies made up the bulk of the meetings, Stein said.
- The delegation also visited a supercomputer connected to IBM technology.
What they're saying: The most common theme was "business uncertainty resulting from the tariffs," Stein tells Axios.
- He says given the global nature of supply chains, "businesses are wanting there to be a little more stability and certainty, I think, before they pull the trigger on announcements."
Zoom out: President Donald Trump also spent last week meeting with Asian leaders, announcing some fresh trade deals and further negotiating frameworks already agreed upon.
- The deal with Japan promises $550 billion in investment in U.S. manufacturing. The White House now says much of it will be in the energy sector.
Yes, but: There's interest from Japanese and Taiwanese companies in investing in the U.S., but what that looks like in light of the latest trade deals isn't clear yet, Stein says.
Behind the scenes: Stein says he tacked on the trip to Taiwan because he sees "a lot of room for growth" for Taiwanese companies in North Carolina.
- Trump, meanwhile, told "60 Minutes" that Taiwan didn't come up when he met with Chinese leader Xi Jinping last week.
Context: China has long claimed sovereignty over Taiwan, a self-governed island with democratically elected leaders.
Zoom in: The governor's office released a list of the companies Stein met with, with the caveat that it only includes businesses that already have a presence in North Carolina.
- In Tokyo, Stein met with Toyota and its lithium-ion battery maker Asahi Kasei. Toyota is opening a $14 billion battery plant in Liberty, a Greensboro suburb. He also spoke with Fujifilm Biotechnologies, Sumitomo Pharma, Morinaga, Nipro and Kyowa Kirin.
- In Taiwan, the list included Everest Textiles, which makes fabrics in Forest City; Anderson Group, a machinery manufacturer; and Delta Electronics, which does research in RTP.
The bottom line: Japan is the top source of foreign direct investment in North Carolina and Japanese-owned companies provide more jobs — over 36,000 — than any other nation.
- "I have a pretty easy job, because I get to sell North Carolina, and North Carolina is very well known in both Japan and Taiwan," Stein says.
One fun thing to go: The governor's favorite meal from the trip was Kobe beef.
- "So, so tender," he says.