3 hours ago
3
What to cognize astir Trump's play interrogation
After President Trump was pressed connected rising user prices and slowing economical growth, helium defended his tariff policies by claiming they had spurred grounds investment successful the United States.
"I deliberation we astir apt person adjacent to $9 trillion of investments coming into this country," Mr. Trump said successful an interrogation on NBC's Meet the Press that aired Sunday. "If you look astatine different presidents, there's ne'er been thing similar that."
He has besides repeatedly claimed that helium secured much concern successful his archetypal 2 months than President Biden did successful 4 years.
Neither assertion is supported by evidence, CBS News Confirmed found. While companies person announced hundreds of billions of dollars successful planned investments since Mr. Trump's Jan. 20 inauguration, the White House has not provided information showing the full approaches $9 trillion.
Additionally, a CBS News reappraisal recovered that immoderate investments highlighted by the White House were announced earlier Mr. Trump's reelection. The examination to the Biden medication is besides misleading: the president is citing aboriginal investments pledges, portion contrasting them with a narrower database of projects that were successful the works oregon completed by the extremity of his predecessor's term.
Here's a breakdown of the claims.
Some investments Trump claims recognition for were announced nether Biden
The White House connected April 29 said Mr. Trump had secured $5 trillion of U.S. concern successful his archetypal 100 days, and published a partial list titled "The Trump Effect" — which it said demonstrated "his America First economical policies person sparked trillions of dollars successful caller investment."
That database totals person to $2 trillion from backstage companies, and astir $5 trillion if commitments from overseas countries are included. The ground for the president's $9 trillion assertion is unclear and the medication has not explained the discrepancy.
A person look astatine the White House database besides shows immoderate of the investments had been announced earlier Mr. Trump took office.
The database initially included a $4.1 cardinal committedness from Novelis, a Georgia-based aluminum company, to physique a works successful confederate Alabama. But operation for that task began successful October 2022 and the $4.1 cardinal full concern was elaborate successful the company's February 2024 fiscal report. CBS News asked the White House connected May 5 wherefore the task was included; the medication did not reply the question, but by midday May 6 the task had been removed from the website.
The Trump medication besides claimed recognition for a $1.5 billion pledge by Corning to put successful its star products installation successful Michigan. A institution spokesperson confirmed to CBS News that $900 million of this backing was announced months earlier Mr. Trump assumed office. On April 29, Corning announced an further $600 million investment, bringing the full to $1.5 billion.
Likewise, the White House listed Johnson & Johnson's commitment to walk $55 cardinal implicit the adjacent 4 years, but a institution spokesperson confirmed that full includes a $2 cardinal concern — announced past October — successful a installation successful Wilson, North Carolina.
The database besides includes the Stargate Project, a $500 cardinal AI infrastructure inaugural announced by Open AI and Japan-based Softbank connected Jan. 21, which had been successful improvement for astatine slightest a twelvemonth before Mr. Trump's inauguration. The companies said $100 cardinal would beryllium deployed "immediately," but offered fewer specifics connected however oregon wherever the wealth would beryllium spent.
Comparing to investments nether Biden
Mr. Trump has repeatedly said helium attracted much concern successful 2 months than Biden did successful 4 years, suggesting helium brought successful trillions successful a substance of weeks portion casting uncertainty that the erstwhile president secured adjacent $1 trillion during his term.
But there's nary wide grounds to enactment his claim. A White House spokesperson said the president was referring to a December 2024 report from the Biden White House, which said the backstage assemblage committed astatine slightest $1 trillion to cleanable vigor and manufacturing projects during Biden's term.
However, Biden's list of investments highlighted "a enactment of private-sector investments successful 21st period industries" including greenish energy, semiconductors, and pharmaceuticals, based connected task announcements successful circumstantial locations oregon factories nether construction. The information connected Biden's "Investing successful America" spreadsheet besides showed projects that intimately lucifer immoderate connected Mr. Trump's list.
By comparison, the Trump administration's database includes broader, little circumstantial concern pledges crossed a assortment of industries — galore without wide timelines oregon locations.
For example, Mr. Trump's database highlights Apple's caller $500 cardinal pledge to U.S. manufacturing and training. However, arsenic antecedently reported by the Washington Post, Apple besides announced a $430 cardinal concern aboriginal successful Biden's term, including a North Carolina engineering hub that was paused successful 2024, and the Biden administration's study does not see immoderate Apple investments successful its tally.
However, experts caution that announcements astir planned investments don't warrant action.
"Companies often volition marque announcements to fundamentally curry favour with an incoming medication to amusement however committed they are to the United States," said Nick Nigro, the laminitis of Atlas Public Policy, which tracks cleanable vigor concern successful the U.S. "It's not antithetic whether it was President Trump oregon President Biden oregon President Obama."
Presidents from some parties person claimed recognition for projects started nether their predecessors. For instance, pharmaceutical institution Eli Lilly announced investments during Mr. Trump's archetypal term, immoderate of which contributed to the operation of manufacturing facilities highlighted by the Biden White House concern report.
During his term, Biden signed large pieces of legislation, including the Inflation Reduction Act and the CHIPS and Science Act of 2022, which included $24 cardinal successful taxation credits to pull backstage investors successful hopes of driving home manufacturing commitments.
Such incentives whitethorn proceed to substance further projects during Trump's term, according to Nigro, provided they stay successful spot — but the semipermanent interaction of national policy, including nether some Biden and Trump, whitethorn instrumentality years to assess.
"It's precise hard to connect these caller investments that person been announced arsenic being tied straight to policies of the Trump administration. It's frankly conscionable excessively early," Nigro said.
Rhona Tarrant contributed to this report.
Laura Doan is simply a information checker for CBS News Confirmed. She covers misinformation, AI and societal media.
English (US) ·