Trump again vows to bring back US jobs
WASHINGTON (Reuters)—US President Donald Trump told chief executives of major US companies on Thursday he plans to bring millions of jobs back to the United States, but offered no specific plan on how to reverse a decades-long decline in factory jobs.
In his first month in office, Trump has pressured a number of US companies to hire in the United States, but he has yet to publicly propose legislation tackling the big economic issues he campaigned on in 2016, including a job-boosting tax or infrastructure program. He will address a joint session of Congress on Feb. 28.
In a meeting with some two dozen CEOs at the White House, Trump said the US had lost about one-third of manufacturing jobs since it joined the North American Free Trade Agreement in 1994 and asserted about 70,000 factories have closed since China joined the World Trade Organization 16 years ago.
But the Bureau of Labor Statistics said the number of private sector manufacturing facilities in the United States has fallen less than that, from nearly 400,000 in 2001 to 344,000 last year.
Lower wages, automation, foreign competition and other factors account for the steep decline in manufacturing jobs, experts said.
Trump has promised to roll out proposals that he said could have favorable ramifications for companies, including a plan to overhaul the tax code and an infrastructure package that was part of his presidential campaign promises to create millions of jobs. He has declined to specify what he had in mind.