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Auto giants bow to Trump tweet storm

Auto giants bow to Trump tweet storm

He adds: "You won't see a seismic change in the auto industry because of Donald Trump's proclivity to have cars made in the U.S. But let me say, it is a good thing to keep as many jobs in the U.S.as we can".

He took to Twitter yesterday and praised Ford Motor and Fiat Chrysler Automobiles after the companies announced they would boost investment in plants and products stateside.

Automobiles made in Mexico consist of approximately one-quarter of Nissan's overall USA lorry sales, market specialists state, compared to around 30 percent for smaller sized competing Mazda, however less than 10 percent for Toyota and Honda. She also said GM would continue to produce cars in Mexico.

Ford said production would be shifted to an existing MI assembly plant, and that it would spend $700 million on USA production of an all-electric version of the auto.

Marchionne said it was unlikely that Mexico could offer incentives sufficient to outweigh a USA decision to impose tariffs.

"This is a long-lead business with highly capital-intensive investments - decisions that were made two, three and four years ago", Barra said, according to MarketWatch.

The largest U.S. vehicle makers have production facilities in Mexico, including companies like Mercedes Benz and BMW, which will begin producing cars there in 2018 and 2019 respectively.

Trump blasts 'fools' against Russian friendship, takes aim at DNC
Director of National Intelligence, an office created after the September 11 attacks. Dan Coats, seen in November in Washington , will be appointed as the U.S.

Chief Executive Marchionne also said on Monday that if the Trump administration sets high tariffs on vehicles made in Mexico and imported to the United States it may end production in Mexico.

One needs not be much of a legal mind to understand that the contents of Donald Trump's tweet is the very definition of extortion. And, in fact, the market for cars such as the Focus is shrinking as USA buyers increasingly favor trucks and SUVs.

However, Barra said General Motors is eager to work with the incoming Trump administration on issues related to manufacturing and job growth. He gave a TED Talk that's famous within the company as setting in motion the 113 year-old company's current mission of mobility, that in the last year, involved the purchase of commuter van start-up Chariot. (Both companies said their plans were not the result of pressure from Trump.) In turn, auto companies expect to see tax and regulatory reforms, among other changes, under a new president, executives said. But Bill Ford bristled when asked if Trump is affecting Ford's production plans. "Make in US or pay big border tax!".

Trump has criticized the industry's strategy of building cars in Mexico and then shipping them to the U.S. He has threatened a 35 percent border tax and said the cars should be built in the U.S.by American workers.

Now an elder statesman, Barack Obama is returning to Chicago where he launched his unlikely political career for one final speech: a parting plea to Americans not to lose faith in their future, no matter what they think.

Business Insider was first to report that Apple said in a federal government filing on Monday that it's looking to expand a "high-tech manufacturing" facility in Mesa, Arizona.


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