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Ford CEO Folds? Trump Confirms Carmaker Won't Move Productio
Posted on: November 18, 2016 at 14:07:01 CT
JeffB MU
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n To Mexico
(additional links on original page)
http://www.zerohedge.com/news/2016-11-18/ford-ceo-folds-trump-confirms-carmaker-wont-move-production-mexico
Just hours after Ford CEO complained of the "huge impact" of Donald Trump's proposed trade plans, following the company's plan to move a substantial portion of its passenger-car production to Mexico from a factory in Michigan, Donald Trump tweeted “Just got a call from my friend Bill Ford, Chairman of Ford, who advised me that he will be keeping the Lincoln plant in Kentucky -- no Mexico," seemingly winning his first 'america-first' victory.
As WSJ reported yesterday, Ford Motor Co. Chief Executive Mark Fields issued a warning about President-elect Donald Trump’s proposed trade policies, saying high tariffs on automobiles and other products coming into the U.S. would be a blow to the auto industry and broader U.S. economy.
Mr. Fields, speaking with reporters on the sidelines of the Los Angeles Auto Show on Tuesday, said Ford has talked to Mr. Trump’s transition team and believes the company can work with the new administration. During a separate interview, he said, “We all share the same objective; we want a vibrant and healthy U.S. economy.”
The two sides, however, appear to be at odds on how to achieve that goal.
Ford’s plan to move a substantial portion of its passenger-car production to Mexico from a factory in Michigan was heavily criticized by Mr. Trump on the campaign trail. Like many of its rivals, Ford is building more-profitable light trucks in the U.S. while investing in new capacity in Mexico to produce lower-margin small cars.
And then hours later, Donald Trump tweeted...
Follow
Donald J. Trump ✔ @realDonaldTrump
Just got a call from my friend Bill Ford, Chairman of Ford, who advised me that he will be keeping the Lincoln plant in Kentucky - no Mexico
8:01 PM - 17 Nov 2016
42,982 42,982 Retweets 134,722 134,722 likes
Follow
Donald J. Trump ✔ @realDonaldTrump
I worked hard with Bill Ford to keep the Lincoln plant in Kentucky. I owed it to the great State of Kentucky for their confidence in me!
8:15 PM - 17 Nov 2016
24,485 24,485 Retweets 90,435 90,435 likes
Which was followed by a statement from Ford confirming Trump's comment...
"Today, we confirmed with the President-elect that our small Lincoln utility vehicle made at the Louisville Assembly Plant will stay in Kentucky,” Ford spokesperson Christin Baker says in e-mail statement.
“We are encouraged that President-elect Trump and the new Congress will pursue policies that will improve U.S. competitiveness and make it possible to keep production of this vehicle here in the United States”
Leaving Donald Trump with his first victory since being elected.
The question is - why didn't, wouldn't President Obama do this?
(additional links on original page)
http://www.zerohedge.com/news/2016-11-18/ford-ceo-folds-trump-confirms-carmaker-wont-move-production-mexico
Just hours after Ford CEO complained of the "huge impact" of Donald Trump's proposed trade plans, following the company's plan to move a substantial portion of its passenger-car production to Mexico from a factory in Michigan, Donald Trump tweeted “Just got a call from my friend Bill Ford, Chairman of Ford, who advised me that he will be keeping the Lincoln plant in Kentucky -- no Mexico," seemingly winning his first 'america-first' victory.
As WSJ reported yesterday, Ford Motor Co. Chief Executive Mark Fields issued a warning about President-elect Donald Trump’s proposed trade policies, saying high tariffs on automobiles and other products coming into the U.S. would be a blow to the auto industry and broader U.S. economy.
Mr. Fields, speaking with reporters on the sidelines of the Los Angeles Auto Show on Tuesday, said Ford has talked to Mr. Trump’s transition team and believes the company can work with the new administration. During a separate interview, he said, “We all share the same objective; we want a vibrant and healthy U.S. economy.”
The two sides, however, appear to be at odds on how to achieve that goal.
Ford’s plan to move a substantial portion of its passenger-car production to Mexico from a factory in Michigan was heavily criticized by Mr. Trump on the campaign trail. Like many of its rivals, Ford is building more-profitable light trucks in the U.S. while investing in new capacity in Mexico to produce lower-margin small cars.
And then hours later, Donald Trump tweeted...
Follow
Donald J. Trump ✔ @realDonaldTrump
Just got a call from my friend Bill Ford, Chairman of Ford, who advised me that he will be keeping the Lincoln plant in Kentucky - no Mexico
8:01 PM - 17 Nov 2016
42,982 42,982 Retweets 134,722 134,722 likes
Follow
Donald J. Trump ✔ @realDonaldTrump
I worked hard with Bill Ford to keep the Lincoln plant in Kentucky. I owed it to the great State of Kentucky for their confidence in me!
8:15 PM - 17 Nov 2016
24,485 24,485 Retweets 90,435 90,435 likes
Which was followed by a statement from Ford confirming Trump's comment...
"Today, we confirmed with the President-elect that our small Lincoln utility vehicle made at the Louisville Assembly Plant will stay in Kentucky,” Ford spokesperson Christin Baker says in e-mail statement.
“We are encouraged that President-elect Trump and the new Congress will pursue policies that will improve U.S. competitiveness and make it possible to keep production of this vehicle here in the United States”
Leaving Donald Trump with his first victory since being elected.
The question is - why didn't, wouldn't President Obama do this?
Please explain why this message is being reported.
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Ford CEO Folds? Trump Confirms Carmaker Won't Move Productio - JeffB MU - 11/18 14:07:01