Technology

Trump to continue creating volatility for Mexico

Trump to continue creating volatility for Mexico

Trump's most recent and hastily composed business missive came Monday morning - hours after he went on an ill-advised three-part rant against Meryl Streep - thanking Fiat Chrysler and Ford for expanding operations in MI rather than Mexico.

Despite this precedent, German carmaker BMW has told the BBC that it is "absolutely" committed to its new $1bn plant in Mexico.

"It's finally happening - Fiat Chrysler just announced plans to invest $1BILLION in MI and OH plants, adding 2000 jobs", Trump said in a tweet. "If the US market were not to be there, the reasons for its existence are on the line", Marchionne said. She also said GM would continue to produce cars in Mexico.

Trump has used Twitter to express himself on assorted subjects, including his desire to see vehicles sold in the U.S. built in the U.S. His Twitter storms can cause industry consternation.

Marchionne, who said he has not spoken with Trump, reiterated that the discussions involving the investment as well as making the Warren plant flexible enough to potentially one day produce Ram heavy-duty pickups, which are now made in Mexico. According to FCA Chief Executive Sergio Marchionne, this investment had already been planned for a long period of time as per Reuters. Companies ranging from General Motors Co to Honda Motor Co to Daimler AG used the show to highlight new USA investments.

GM CEO Mary Barra said more than 95% of the Chevy Cruze cars sold in the United States were manufactured at the company's OH factory. It is unclear if he has spoken to Mr. Trump or will take questions from the media.

Sheila Jackson Lee Is Still Questioning the Validity of Trump's Win
Not surprisingly, several protesters were ejected from the public gallery as the vote count concluded. Sheila Jackson Lee of Texas challenged the electoral vote certification on Friday.

The CEO declined to speculate on Trump's America-first policies, but stressed that GM still operates over 40 plants in the USA and has invested $11 billion in the country in recent years - a likely appeal to Trump. "If the United States market were not to be there, the reasons for its existence are on the line", he said.

Executives from General Motors and Volkswagen said they have no plans to change production plans despite the Trump border tax threat. "Make in United States of America or pay big border tax!". Ford said he is encouraged that overhauling the corporate tax code is high on Trump's agenda.

On Toyota, Trump tweeted: "Toyota Motor said will build a new plant in Baja, Mexico, to build Corolla cars for U.S". "We made that decision and we'll always make the right business decisions for Ford", he said. "We are very proud of the very significant - over 100,000 - jobs that we provide in the United States".

"Already, manufacturers are complaining that under Trump, the future isn't predictable", said Eric Noble, president of The CarLab consulting firm in Orange, California.

"I understand what the president-elect is saying - he's basically saying that we want to have a vibrant economy, that we want to be more competitive in the world", Lentz said.


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