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Trump urges more US investment during car chiefs talks | Trump urges more US investment during car chiefs talks |
(about 5 hours later) | |
US President Donald Trump has told the heads of the big three US car giants to build more vehicles in America. | US President Donald Trump has told the heads of the big three US car giants to build more vehicles in America. |
During a White House meeting with the companies' chief executives he promised to make investment more attractive through cuts in regulations and taxes. | During a White House meeting with the companies' chief executives he promised to make investment more attractive through cuts in regulations and taxes. |
"We have a very big push on to have auto plants and other plants," he told reporters at the start of the meeting. | "We have a very big push on to have auto plants and other plants," he told reporters at the start of the meeting. |
Mr Trump met General Motors' Mary Barra, Ford's Mark Fields, and Fiat Chrysler's Sergio Marchionne. | Mr Trump met General Motors' Mary Barra, Ford's Mark Fields, and Fiat Chrysler's Sergio Marchionne. |
The president has criticised some carmakers via Twitter, warning them about expanding plants in Mexico and elsewhere and then expecting to import vehicles tariff free. | The president has criticised some carmakers via Twitter, warning them about expanding plants in Mexico and elsewhere and then expecting to import vehicles tariff free. |
Tuesday's meeting was Mr Trump's first chance to meet the car chiefs face-to-face to press home his "buy American, hire American" policies. | Tuesday's meeting was Mr Trump's first chance to meet the car chiefs face-to-face to press home his "buy American, hire American" policies. |
According to news briefings in the US, the executives raised the issue of fuel efficiency rules, trade policy and other regulatory matters during the hour-long meeting. | According to news briefings in the US, the executives raised the issue of fuel efficiency rules, trade policy and other regulatory matters during the hour-long meeting. |
Mr Marchionne told reporters after the meeting that the president did not give them specifics on what regulations he would cut. | Mr Marchionne told reporters after the meeting that the president did not give them specifics on what regulations he would cut. |
Toyota jobs | Toyota jobs |
GM, Ford, and Fiat Chrysler, as well as foreign carmakers, have announced a string of new US jobs and investments in recent weeks. | GM, Ford, and Fiat Chrysler, as well as foreign carmakers, have announced a string of new US jobs and investments in recent weeks. |
Also on Tuesday, Toyota said it would add 400 jobs and invest $600m in an Indiana plant, aiming to boost production there by 10%. The Japanese company has already said it plans to invest $10bn in the US over the next five years. | |
According to Reuters, US car manufacturers have collectively added more than 78,000 jobs since 2009, the year when GM and Chrysler - before it became part of Fiat - filed for bankruptcy protection as part of government bailouts during the US recession. | According to Reuters, US car manufacturers have collectively added more than 78,000 jobs since 2009, the year when GM and Chrysler - before it became part of Fiat - filed for bankruptcy protection as part of government bailouts during the US recession. |
They have invested more than $40bn in US plants during that period. | They have invested more than $40bn in US plants during that period. |
Barclays' car industry analyst, Brian Johnson, said in a research note on Tuesday that "automakers will be willing to make a deal that would bring back jobs to the US in return for a slower ramp of (fuel efficiency) targets and related state-level mandates." | Barclays' car industry analyst, Brian Johnson, said in a research note on Tuesday that "automakers will be willing to make a deal that would bring back jobs to the US in return for a slower ramp of (fuel efficiency) targets and related state-level mandates." |
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