President Donald Trump playfully threw shade at Emmanuel Macron by saying the United States has much lower unemployment than France because it has a better president. Trump made the comical dig while visiting the new $50 million Louis Vuitton manufacturing facility in Alvardo, Texas.
Trump was responding to a French reporter, who asked why unemployment rates are so much lower in the United States than France.
Trump quipped, “Well, maybe we have a better President than you do.” He then smiled.
The unemployment rate in the United States is at a record low of 3.5%. In contrast, France’s unemployment currently hovers at 8.5%.
(Source: Polish Patriot)
Trump toured the new $50 million, 100,000-square-foot Louis Vuitton factory before a ribbon-cutting ceremony, where he noted that the facility will employ 1,000 American workers.
The president noted: “Every year, Louis Vuitton will pay more than $26 million in wages. And that number will increase even higher as the facility doubles to 1,000 workers in a very short period of time.”
Every handbag and piece of luggage produced at Louis Vuitton in Texas will be made by hand and stamped with the beautiful words, "Made in the USA!" pic.twitter.com/S3DG6kAADz
— The White House 45 Archived (@WhiteHouse45) October 17, 2019
Trump continued: “Every purse, handbag, and piece of luggage produced here [at Louis Vuitton in Texas] will be made by hand and…will have ‘Made in the USA’ stamped on it.”
“Under my administration, we believe that we can build it, grow it, or make it in the United States. And we are doing that in record numbers.
After losing 60,000 factories under the previous two administrations, we have now gained nearly 10,000 new factories under my administration in just a very short period of time.
Investments like the one we celebrate today have given the United States the hottest economy anywhere on Earth.”
The opening of the Louis Vuitton factory in Texas is part of a deal that President Trump negotiated with French billionaire Bernard Arnault, the chairman of Louis Vuitton Moët Hennessy (LVMH).
Under Trump’s Pledge to America’s Workers initiative, LVMH committed to bringing new jobs to the United States.
Rolex, Volvo, and Walmart have also pledged to create jobs in the U.S. under Trump’s “Pledge to America’s Workers” program. President Trump visited the Louis Vuitton plant shortly before leading a raucous rally in Dallas.
There has been a lot of media hype stoking fears of an impending U.S. recession, fueled in part by the ongoing US-China trade war.
That said, the Trump economy is on fire despite significant economic slowdowns in Europe and Asia.
Tim Quinlan, a senior economist at Wells Fargo, wrote: “At a time when recession risk dominates most economic discussions, the strength of the U.S. consumer is among the more compelling examples of an economy that is still firing on all cylinders.”
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Samantha Chang is a senior staff writer for BizPac Review. She is a financial editor and lawyer based in New York City.
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