President-elect Donald Trump's transition team announced Tuesday that Bayer AG will invest $8 billion into American research as part of their acquisition of Monsanto, The Hill reported.
Sean Spicer, the incoming White House press secretary, said Bayer will ensure that none of the 9,000 jobs held at Monsanto in America will be lost, and the deal will create 3,000 more jobs in high-tech areas, which will "drive future innovation in agriculture," according to a joint statement from the companies.
"The United States is a global leader in agriculture, and the combination of Bayer-Monsanto will underscore that role and ensure the United States retains a pre-eminent position as the anchor of the industry," the statement added.
"This is an investment in innovation and people that will create several thousand new high-tech, well-paying jobs after integration is complete, jobs that will keep America at the forefront of agricultural innovation and that serve U.S. farmers by delivering better products and services faster."
Trump promised to add American jobs as president, and since the announcement comes close after the president-elect met with the CEOs of Monsanto and Bayer, his team has taken the credit.
"This new domestic expansion has not been broadcast anywhere previously," Spicer told reporters.
"The reason for this commitment and expansion is because of the president-elect's focus on creating a better business climate here in the United States, which has already increased consumer small biz confidence since the election,” he said.
Trump also praised himself Tuesday for General Motor's decision to reinvest in American manufacturing:
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