Monday, January 9, 2017

Fiat to invest US$1,000 million in the U.S. after threats of Trump – Clarín.com

The president of Fiat Chrysler (FCA), Sergio Marchionne, announced today the investment of 1000 million dollars in the united States, at a press conference in Detroit at the start of the International Auto show, and added that they will create 2000 jobs in Ohio and Michigan. After threatening high tariffs on the automobile companies Toyota, Ford and General Motors, the president-elect Donald Trump celebrated the news on Twitter.

The tycoon, had criticised the companies that took their production to other countries and did not create jobs in the united States and, during his campaign, had promised a 35% tariff on all imported goods companies settled in the country that have their production abroad.

Although Marchionne denied that the announcement of the FCA has been a way to avoid an attack of Trump, said that the use that the president-elect makes of Twitter to influence the decisions of businesses is something new for the sector.

“it’s Finally happening: Fiat Chrysler just announced plans to invest 1,000 MILLION dollars in its plants in Michigan and Ohio, creating the 2,000 jobs,” tweeted Trump. In addition, slid that those investments would come after the pressure that had been exerted on the automotive market: “Ford announced last week that it will expand to Michigan and to the united States in place to build a plant for one billion dollars in Mexico.”

The entrepreneur Italian-canadian, admitted that, if Trump it imposes high tariffs, is not likely to be economical to produce in Mexico: “The consequences can be quite serious. It would not be pleasant.”

Toyota has acknowledged, as Fiat Chrysler, who are waiting for the new measures of the next government before taking their decisions. Ford, for its part, announced that it will produce two models of the mythical in the united States -the jeep, Bronco and pickup, Ranger – which will be assembled in the factory in Wayne, Michigan.

Sources: EFE, AFP.

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