U.S. under Trump Series Sweet GM win for Trump

Barra said the auto business has long lead times in regard to where it produces vehicles, and decisions are made two to four years ahead.

The South Korean group plans to spend the $3.1-billion to retool existing factories in the United States and boost research on self-driving cars, artificial intelligence and other future technologies, Chung said. The pattern continued on Tuesday. Automotive News reported that all cars that will be exported to the USA which will be produced in Mexico will be required to pay a border tax of 35 percent.

GM also continues to invest in Mexico.

According to NBC News, however, GM sold more Mexican-made vehicles in the US than any other American automaker in 2016.

But Paul noted this is nothing new.

That didn’t stop President-elect Trump from touting the deals as his achievement. “That’s where our attention needs to be focused”.

However German economy minister Sigmar Gabriel said that rather than trying to penalize German carmakers, the United States should instead build better vehicles.

While Mr. Trump’s criticism of the industry has centered on the outsourcing of manufacturing jobs, GM has tried to spotlight the white-collar positions it has created as vehicle sales rebounded in recent years. The company says 1,500 new and retained jobs are expected in the new projects. “So from a presentation and communications standpoint, he’s had an effect”.

Elsewhere, VW started production previous year at a $1.3bn factory near Puebla.

Nonetheless, following news of the FCA and Ford moves, Trump declared at his news conference last week, “General Motors will be following, and I think they will be”. A month ago GM CEO Mary Barra agreed to join a panel of CEOs who will advise Trump on economic policy.

Trump bogusly claimed in November that he had stopped Ford from closing a plant in Kentucky. That product line was never identified during the ensuing 18 months.

The company says the new investments will cover new vehicle, advanced technology and component projects. But the company joins a number of major employers eager to demonstrate a commitment to U.S.jobs ahead of Friday’s inauguration.

GM CEO Mary Barra also admitted that these decisions were made years ago, though she says she is excited to tell GM’s story on us employment to the new administration.

Barra is an adviser to Trump as a member of his “Strategic and Policy Forum”.

Trump tweeted threats to GM earlier this month – promising to tax the company for importing its compact Chevrolet Cruze from Mexico.

“This move, this latest announcement that was just made, is totally consistent with the announcement that was made almost 12 months ago”, Marchionne said last week.

Image source: General Motors.

– Donald J. Trump (@realDonaldTrump) January 17, 2017country and with the massive cost reductions I have negotiated on military purchases and more, I believe the people are seeing “big stuff”.

The company said it expects to add about 1,000 employees in the next few years and will invest more than $1 billion expanding it’s USA -based operations.