If one was to go back a few months and listen to the campaign rhetoric, one would think U.S. automakers were the mortal enemy of the new President Donald Trump.
Fast forward to the present month and day and see the billion dollar announcements from the Detroit Three, which are General Motors, Ford, and Fiat Chrysler.
That’s in addition to their announced commitment to U.S. hiring, and as a bonus, the president yesterday shut out Japanese automakers for the time being by walking away from the TPP.
The result: It’s all smiles.
Trump met with U.S. auto execs at the White House this morning, and Ford CEO Mark Fields, speaking with reporters on behalf of the three, says they discussed what will be a renaissance in American manufacturing and the process of bring jobs back to the U.S.
In general, equity markets have been quiet these last few days.
But it’s no surprise Ford, GM and Fiat Chrysler shares are higher this morning.