After saving more than 1,000 jobs in Indiana with his lauded Carrier deal last week, Donald Trump just announced another huge economic move: the creation of another 50,000 jobs.
On Tuesday, Trump had a 45 minute meeting with the CEO of Japan’s SoftBank Corporation, Masayoshi Son, at Trump Tower. Afterwards, Trump announced that he had secured a big deal with the Japanese corporation to invest $50 billion in the U.S. economy—and add 50,000 jobs.
SoftBank might not be a household name, but it already has a strong presence in the United States. The Japanese giant owns 80% of Sprint, America’s third-largest wireless phone provider. SoftBank also recently purchased the company that makes chips for Apple’s iPhone.
Son himself did not say what specifically his company would invest in, but told the Wall Street Journal that the $50 billion would be part of SoftBank’s $100 billion tech investment fund. Considering SoftBank’s holdings, however, Sprint shares shot up by about 7% in one day.
As President, Donald Trump faces very high expectations: on the campaign trail, he promised to rebuild the U.S. economy, especially in depressed regions like the Upper Midwest. But so far, Trump doesn’t seem to be disappointing—racking up a large number of economic victories even before taking office.