"We are encouraged by the pro-growth policies that President-elect Trump and the new Congress have indicated they will pursue", Fields said in a statement. Trump and Pence will officially be sworn in on January 20.
Ford's plan to add more jobs in MI has strong union support. Instead, the automaker said it will invest $700 million to expand a plant in Flat Rock, Michigan, adding 700 new jobs.
Trump was told of the decision by Ford Chairman Bill Ford Jr. who said he spoke with the president-elect Tuesday morning, CNBC reported.
On Tuesday, Ford Motor Co. announced a surprise decision to cancel previously laid plans to construct a $1.6 billion small cars factory in Mexico.
Uncertainty over the plans of the incoming Trump administration and its approach to US-Mexico trade relations have weighed on the Mexican economy, weakening the peso currency in recent months. The news agency reported the source said the move was influenced by Trump's policy goals, such as cuttings taxes and reducing regulations, but said there were no talks between the company and Trump about the decision to nix the Mexico plant or pump money into MI.
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"Bottom line", Fields continued, "is we are not seeing the volume and demand that we had expected (for small cars)". We've lost our jobs.
The automotive company said in a statement it builds the cars it sells in the United States in an OH factory. We can lower our taxes, and we're probably going to have to charge a surtax at the border.
Soon after the tweet, GM clarified that Cruzes sold in the USA were overwhelming made in the country, while the Mexican-made models are largely sold overseas.
Even though he's not even president yet, Trump has already succeeded on both cases, Carrier and Ford. Still, if this is the beginning of a trend for the Trump administration-the cries of Crony Capitalism! reignited nearly instantly Tuesday-it's hard to figure how this'll all shakeout in a positive manner for the US economy in the end.
Trump, of course, shocked the political class by winning the state of MI against Democrat Hillary Rodham Clinton on November 8 on his pathway to 306 electoral votes.