Donald Trump is literally kicking ass with the American auto industry

sport02

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After Ford backing down in recent days and cancelling a $1.6 billion dollar plant in Mexico to focus in the US instead Trump now has his eyes on Toyota.
In the last hour, Trump has tweeted the following.

Donald Trump
Toyota Motor said will build a new plant in Baja, Mexico, to build Corolla cars for U.S. NO WAY! Build plant in U.S. or pay big border tax.


Trump: Toyota faces big tax if it builds Corolla cars for U.S. in Mexico | Reuters

It's non stop Trump criticism in the media but he means business and is doing the business.
 


The_SR

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After Ford backing down in recent days and cancelling a $1.6 billion dollar plant in Mexico to focus in the US instead Trump now has his eyes on Toyota.
In the last hour, Trump has tweeted the following.

Donald Trump
Toyota Motor said will build a new plant in Baja, Mexico, to build Corolla cars for U.S. NO WAY! Build plant in U.S. or pay big border tax.


Trump: Toyota faces big tax if it builds Corolla cars for U.S. in Mexico | Reuters

It's non stop Trump criti
cism in the media but he means business and is doing the business.
By interference with business
 

ruserious

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Toyota is a Japanese company. Strange turn of events. Protectionism alive and well.
 

sport02

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Response via Bloomberg
"Toyota looks forward to collaborating with the Trump Administration"
 

gleeful

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Trump has no power to impose taxes on anyone. Thats not part of the office of the presidency.
 

Dimples 77

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Toyota is a Japanese company. Strange turn of events. Protectionism alive and well.

It is strange.

Trump spouted on about keeping American jobs in the US, but these aren't American jobs in the first place.

According to Trumponomics Toyota should build their products in Japan.
 

bonkers

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Trump has no power to impose taxes on anyone. Thats not part of the office of the presidency.
Can you imagine what will happen if the loon starts putting punitive taxes on foreign firms trading in the US?
 

ShoutingIsLeadership

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And when the price of cars rises for the many average Americans, for the sake of jobs for the few? Or when their competitors are importing cars into America which they made in cheaper locations, and the US made ones become less competitive?
 

Dimples 77

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And when the price of cars rises for the many average Americans, for the sake of jobs for the few? Or when their competitors are importing cars into America which they made in cheaper locations, and the US made ones become less competitive?
Then he'll get his ass kicked.
 

jpc

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And when the price of cars rises for the many average Americans, for the sake of jobs for the few? Or when their competitors are importing cars into America which they made in cheaper locations, and the US made ones become less competitive?
Its also worth mentioning that Obama allowed billions to be put into saving the auto industry when there was a real option of mass bankruptcy post Lehmans.
Trump is playing a blinder with a few jobs.
That's optics for you.
 

jpc

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And when the price of cars rises for the many average Americans, for the sake of jobs for the few? Or when their competitors are importing cars into America which they made in cheaper locations, and the US made ones become less competitive?
Its also worth mentioning that Obama allowed billions to be put into saving the auto industry when there was a real option of mass bankruptcy post Lehmans.
Trump is playing a blinder with a few jobs.
That's optics for you.
 

Dimples 77

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The devil is in the future detail. Companies might be responding positively now whilst planning some subtle backtracking later on.

The Indiana/Carrier outcome wasn't quite the victory that the Trumpeniks claimed.

https://www.theguardian.com/us-news/2016/dec/03/donald-trump-carrier-factory-indiana-jobs-tax-breaks

Exactly.

It involves the usual corporate welfare. Is that his plan - provide corporate welfare to each and every company that plans to send jobs outside the US?
 

Cellachán Chaisil

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So can all countries now impose taxes on American companies that refuse to base factories when they wish to sell products therein?
 
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ShoutingIsLeadership

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Its also worth mentioning that Obama allowed billions to be put into saving the auto industry when there was a real option of mass bankruptcy post Lehmans.
Trump is playing a blinder with a few jobs.
That's optics for you.


He saved many jobs in the process...not saving them would have been political suicide
 

TheWexfordInn

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Toyota is a Japanese company. Strange turn of events. Protectionism alive and well.
I suspect that the days of unfettered free trade are over.
The original economic writings that showed that free trade was a win-win for everything were based on the fact that Capital was bolted to the floor and stayed where it was.

Nowadays Capital can me moved around the world and the original thinking doesn't hold true any more as the Capital can just move to wherever in the world that the cost of Labour is the cheapest.
It is no longer a win-win for everyone.
Nowadays Free Trade has winners and losers. And the losers are complaining, the losers who are those losing their jobs to the low wage economies are now getting a political voice.
 

Cynicist

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Trump will eventually look to Ireland and see what business he can repatriate.

Then we'll kick him out of Doonbeg.

 


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