President Trump Calls on Automakers to Increase U.S. Production

In an effort to boost jobs and grow the economy, President Donald Trump urged leaders from General Motors, Ford, and Fiat Chrysler to build new plants in the U.S.

Earlier today, Trump met with GM CEO Mary Barra, Ford CEO Mark Fields, and FCA CEO Sergio Marchionne in the White House, reports Reuters.

“We have a very big push on to have auto plants and other plants – many other plants,” Trump told reporters during the meeting. “It’s happening.”

During the event, Trump reiterated his commitment to cutting taxes, reducing unnecessary regulations, and making it easier for automakers and other companies to conduct business in the U.S. Although Trump has ruffled Ford’s feathers in the past, Fields noted the industry is looking forward to working with the president.

“We’re very encouraged by the president and the economic policies that he’s forwarding,” Fields told reporters. He also expressed his support for Trump’s withdrawing from the Trans-Pacific Partnership agreement, which the auto exec says doesn’t take into account currency manipulation.

Trump has come under fire for threatening to impose a 35-percent tariff on vehicles imported to the U.S. Although the three American automakers have announced new investments in the U.S., they’re still committed to making vehicles in Mexico.

Ford recently cancelled plans to build a new plant in Mexico, opting instead to invest $700 million in its Flat Rock plant in Michigan. Instead of building a new plant in Mexico, Ford will expand an existing plant there to accommodate production of the Ford Focus, which has traditionally been made in Michigan. Fields said the decision was not a political move, but instead a reaction to slow sales of small cars.

For more on how the Detroit Three and other automakers will approach dealing with the Trump administration, read our big Inauguration Day feature story here.

Source: Reuters

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