WASHINGTON, April 28 (Reuters) - CEOs and senior
executives from Nvidia ( NVDA ), Johnson & Johnson ( JNJ ),
Hyundai Motor ( HYMTF ), Toyota Motor ( TM ), and SoftBank
Group are among the more than two-dozen business
leaders slated to visit the White House on Wednesday for an
event highlighting U.S. investments, officials told Reuters.
President Donald Trump plans to promote a broad range of
investments in the United States in defense, tech, healthcare
and consumer products industries and investment funds marking
his first 100 days in office at an "Investing in America" event,
a White House official told Reuters.
Trump is seeking to encourage U.S. and foreign companies to
expand manufacturing in the United States, while he has sparked
a global trade war, imposing tariffs on a wide range of
countries. Airlines, aerospace firms, automakers and retailers
have expressed worries about the impact of tariffs on U.S.
manufacturing and sales.
The White House touted investment commitments from Taiwan
chipmaker TSMC, Apple ( AAPL ), and Roche saying they
"demonstrate resounding confidence in the U.S. economy and
dollar under this administration."
Some major companies have said they want more details on
trade and other government regulations before committing to new
investments. Trump has said General Motors ( GM ) is considering
a new $60 billion investment in the United States.
"I need clarity, and then I need consistency," GM CEO Mary
Barra said at a Semafor forum last week. "To make those
investments and to be good stewards of our owner's capital, I
need to understand what the policy is."
Trump has said he is considering granting automakers some
relief from new auto tariffs.
In January, he announced a private-sector investment of up
to $500 billion to fund infrastructure for artificial
intelligence, aiming to outpace rival nations in the
business-critical technology. That is expected to include
ChatGPT's creator OpenAI, SoftBank and Oracle.
Last month, South Korea's Hyundai announced a
$21 billion investment in the U.S. at the White House, including
a new $5.8 billion Hyundai Steel plant in Louisiana
that will produce over 2.7 million metric tons of steel
annually, creating more than 1,400 jobs.