President-elect, Donald Trump, who is set for inauguration on January 20th, might still be reeling off of Meryl Streep’s incredible Golden Globe’s speech, taking jabs at the 45th U.S. president and his recent campaign; but, he also might have something to celebrate too.
Trump has been criticizing auto manufacturing company Ford when it comes to their construction of assembly plants outside of America, moreover Mexico, and has threatened to hit Ford with weighty import duties on products produced outside of the U.S. Well, it turns out that these ‘promises’ may have hit the company hard, with Ford recently deciding against plans to develop a plant outside of the U.S., and has cancelled its San Luis Potosi, Mexico plant prior to construction.
The plant would have created 2,800 job locally and was slated as a $1.6 billion-dollar investment for the area. Rather than the new plant in Mexico, Ford has decided to invest $700 million dollars to upgrade its Michigan plant. As such, this plant will now help to produce autonomous and electric cars and will essentially create 700 jobs once all is said and done.
MSN reported that Mark Fields, CEO of Ford, has stated that this was a business decision on Ford’s part, but also did note that Trump and his promises did influence this choice, as the president-elect already stated that once he lands at the White House plans on enforcing a substantial import tax as it relates to products that Ford produced outside the United States of America.
Ford’s CEO also noted that if the U.S. wants additional manufacturing companies to come back, the country needs to alter specific fiscal policies; policies that Trump has also promised he will work on changing once he officially becomes president.
The change in Ford’s plans coincidentally comes at a time when The Donald seems to have a new company to target, General Motors. GM produces their Chevrolet Cruze, currently, at the plant in Mexico. Let’s see how long that lasts …