(January 17) General Motors announced Tuesday just a few days before Trump's inauguration that it would invest an additional $1 billion in U.S. factories and would move some production from Mexico to the U.S.
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|GM pointed out that the new investment is in addition to the $2.9 billion the company had announced it would invest last year. The timing and optics make it appear that GM is acting in response to president-elect Donald Trump's criticism of GM and other car makers for producing cars in Mexico and then importing them into the U.S. He threatened to impose a large border tax on GM cars such as the Cruze imported from Mexico. Howeve, the appended video mentions that the increased investment had actually been in the works for some time. However, it might have been in anticipation of what Trump might do.|
Follow Donald J. Trump ✔ @realDonaldTrump With all of the jobs I am bringing back into the U.S. (even before taking office), with all of the new auto plants coming back into our.....8:30 AM - 17 Jan 2017 3,354 3,354 Retweets 14,214 14,214 likes.
“All of the decisions behind today’s announcement are good business decisions and they have been in the works for some time. There’s no question there is an emphasis on job creation in the U.S. right now. This was good timing for us to share what we are doing, including our ongoing commitment and track record for U.S. investment over the last several years.”
“As the U.S. manufacturing base increases its competitiveness, we are able to further increase our investment, resulting in more jobs for America and better results for our owners. The U.S. is our home market and we are committed to growth that is good for our employees, dealers, and suppliers and supports our continued effort to drive shareholder value.”