(Reuters) -Haier-owned GE Appliances said on Wednesday it plans to invest more than $3 billion over five years in its U.S. operations and workforce following the Trump administration's tariff policies
GE Appliances to Allocate Over $3 Billion for U.S. Manufacturing Expansion
GE Appliances' Investment Plans
(Reuters) -Haier-owned GE Appliances said on Wednesday it plans to invest more than $3 billion over five years in its U.S. operations and workforce following the Trump administration's tariff policies aimed at boosting domestic manufacturing.
Global firms have been increasing their investments and presence in the United States after President Donald Trump pushed companies across sectors, including Apple and Ford, to produce goods within the country and generate jobs.
Job Creation and Economic Impact
The GE Appliances investment will create 1,000 jobs in five states and is aimed at expanding the company's air conditioning and water heating portfolio, increasing production output and modernizing its 11 U.S. manufacturing plants with new automation and capital equipment, the home appliances maker said.
Earlier this year, peer Carrier Global also said it planned to invest $1 billion over five years in the U.S.
Comparison with Carrier Global's Investment
By the time the plan is complete, Louisville, Kentucky-headquartered GE Appliances said it will have invested $6.5 billion across its U.S. manufacturing plants and distribution network since it was acquired by Chinese consumer electronics major Haier from General Electric in 2016.
(Reporting by Aatreyee Dasgupta and Anshuman Tripathy in Bengaluru)
