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pampango

(24,692 posts) Tue Feb 16, 2016, 06:24 PM Feb 2016

Ford Motor Company pushes back on Trump tariff threat

FORD PUSHES BACK ON TRUMP TARIFF THREAT

The Ford Motor Co. is pointing to its U.S. investments as a way of responding to attacks on it by Donald Trump for moving jobs out of the country. In case you missed it, the Republican presidential hopeful was asked in Saturday night’s debate about his threat to seek a 35 percent import tariff on Ford’s cars if the company follows through on a plan to build a new $2.5 billion production facility in Mexico. He answered: "I would build consensus with Congress, and Congress would agree with me. Consensus means you have to work hard. You have to cajole. You have to get them into the Oval Office and get them all together, and you have to make deals."

The Detroit-based auto manufacturer notes that it has spent more than $10.2 billion on its U.S. plants since 2011 and plans to commit another $9 billion more over the next four years. ”Ford today has 80,000 U.S. employees and growing,” Ford spokeswoman Christin Baker said in an email. “This is up substantially since 2011.” The company also has shifted production of medium duty trucks to Ohio from Mexico last year, she said. Read Ford’s release on that move here.

Trump also threatened in the debate to go after air conditioner manufacturer Carrier for recently announcing plans to move 1,400 production jobs from Indianapolis to Mexico. "I am going to get consensus from Congress, and we're going to tax you when the air conditioners come," he said.

http://www.politico.com/tipsheets/morning-trade

Of course if Trump did this, he would withdraw from NAFTA (perhaps maintaining the trade agreement with Canada that preceded NAFTA). He will also abrogate the Iran deal, the Cuba deal and, if he imposes similar tariffs on China as he has threatened to to, have the US withdraw from the WTO. Such details probably do not bother Donald.