Apple supplier Foxconn all but scraps Trump-era $10bn factory pledge

Taiwan electronics manufacturer retreatS from a project the former US president called "the eighth wonder of the world"

Former US President Donald Trump first announced the project to a great fanfare in 2017. AP Photo/Carolyn Kaster, File

Taiwan electronics manufacturer Foxconn — a large supplier to Apple's iPhone — is drastically scaling back a planned $10bn (€8.3bn) factory in Wisconsin, confirming its retreat from a project that former US President Donald Trump once called "the eighth wonder of the world".

Under a deal with the state of Wisconsin Foxconn will reduce its planned investment to $672m from $10bn and cut the number of new jobs to 1,454 from 13,000.