Monsanto, Bayer execs meet with Trump, pledge $16b to R&D

Trump team touts $8 billion Bayer investment

Bringing manufacturing back to the United States was a major theme in Trump's presidential campaign.

He won't be sworn in for another two days, but the president-elect is already making good on his promise.

It was the third announcement of USA investment and job creation plans by a major company on Tuesday, just three days before Trump's inauguration. "I believe the people are seeing 'big stuff, '" he added in a pair of tweets.

Trump press secretary Sean Spicer says the president-elect received commitments from Bayer CEO Werner Baumann that they would keep Monsanto in St. Louis and "retain 100 percent of Monsanto's 9,000-plus US workforce and create at least 3,000 new USA high-tech jobs".

Some of America's largest companies including General Motors, Lockheed Martin Corp and United Technologies Corp have been publicly rebuked by Trump on Twitter.

USA businesses are facing more pressure to show that they're creating American jobs ahead of Friday's scheduled inauguration of Trump, who made the issue a signature of his campaign. Many others are anxious they may be his next target - especially if they have significant overseas manufacturing, have cut or raised prices for consumers.

Wal-Mart Stores, General Motors as well as Bayer and Monsanto, which are in the process of merging, unveiled plans for job creations, new stores, research and assembly plants.

They said they expect to spend a total of about $16 billion worldwide on agriculture R&D over the next six years, in line with an annual 2.5 billion-euro ($2.7 billion) pro-forma budget they announced at the time of the merger agreement in September.

General Motors said it would invest an additional $1 billion in its US factories and move some production from Mexico - moves that would create or retain 1,500 jobs. None of this, Spicer said, had been in the works previously. GM has also announced plans to lay off about 3,300 employees at three factories in recent months.

The mega retailer announced Tuesday it would invest $6.8 billion in the United States - opening, expanding or relocating 59 Walmart and Sam's Club locations and creating 10,000 jobs in stores and online sales.



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