With another major company making the decision to keep manufacturing in the US, President-elect Donald Trump is, of course, taking all the credit. Ford Motors recently announced they would no longer be building a plant in Mexico. Rather, Ford will be investing $700 million into a Michigan plant to build electric, hybrid, and autonomous vehicles in Flat Rock. The move will add 700 jobs to the American economy.
On the campaign trail, Trump made several promises to punish Ford if they moved a plant to Mexico saying he would impose tariffs on imports. In response to Ford’s decision, Trump tweeted, “Thank you to Ford for scrapping a new plant in Mexico and creating 700 new jobs in the U.S. This is just the beginning – much more to follow.”
Thank you to Ford for scrapping a new plant in Mexico and creating 700 new jobs in the U.S. This is just the beginning – much more to follow
— Donald J. Trump (@realDonaldTrump) January 4, 2017
So, it’s reasonable to expect Trump to gloat over the decision and claim it as his doing. However, Ford shot that down quickly. CEO Mark Fields spoke with CNBC on Halftime Report and denied their decision had anything to do with Trump’s threats during the election.
‘We didn’t cut a deal with Trump. We did it for our business. The bottom line is we’re not seeing the volume and the demand that we expected for that plant. We’re looking at our capacity and saying, “You know what, we can build that in an existing facility and use capacity that we already have.”‘
Fields cited a drop in demand for smaller cars and a higher demand for SUVs and trucks as the reason behind the decision.
‘Over the last couple of years, we’ve seen small cars markedly decline. Every year we’re looking at our capacity. We’re looking at our forecast for demand. It became very clear that we didn’t need this plant.’
Fields also echoed the same on CNN. However, Fields managed to lather some praise on to Trump saying, “We see the pro-growth policies that he’s proposing. So, this is a vote of confidence in what we think the president-elect is going to pursue and it’s right for our business.”
You can watch the interview below.
Featured image via Getty Images / Bryan Thomas.