Anthony Brian Logan
@AnthonyBrianLogan·1.1M subscribers·6.1K videos
Trump Effect Gets Ford Plant Cancelled In Mexico & $700 Million Invested In Detroit (REACTION)
Posted
January 4, 2017
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January 4, 2017
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11:50Now PlayingFord Motor Company announced plans in early January 2017 to cancel the planned construction of a $1.6 billion dollar plant in Mexico in favor of investing $700 million into expanding an existing plant in Detroit Michigan. The CEO of Ford, Mark Fields, stated that the move was done largely in part as a vote of confidence in Donald Trump. Fields cited the loosening of regulations on the auto industry and a more business - friendly environment. He had spoken, with dread, of a possible 35% tariff in previous interviews before the announcement of the nixed Mexican plant but that was not mentioned as a specific reason in this particular case.
Of course, there will be questions about why the plant in Mexico was slated to receive $1.6 billion along with 2800 jobs, while the plant in Detroit would receive $700 million and 700 jobs. Mark Fields stated that the Mexican plant would have been a total new construction while the plant in Detroit would simply be an expansion of an existing plant. He also stated that demand for small vehicles had declined in North America, so instead of building a new plant to manufacture the Prius, they would build them in an existing plant in Mexico, thus saving the money they would have spent on the new plant. The expansion in Detroit would - in part - be to focus attention on manufacturing electrified vehicles.
Critics of the move say that Donald Trump is practicing crony capitalism by striking deals with specific companies. He is essentially being accused of playing favorites. In the case of Ford, there was no deal struck. It was simply a situation where they felt comfortable making a decision for the future of their company based on the forecast of the business environment during a Trump administration. Which makes sense, of course. Any and every business would examine the environment of the near future in which they must operate and make decisions based upon said environment.
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Ford cancels Mexico plant. Will create 700 U.S. jobs in 'vote of confidence' in Trump - Jan. 3, 2017
Ford cancels plans for $1.6 billion Mexico plant, to add 700 jobs in Detroit - MarketWatch
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