Detroit’s 3 CEO’s will have a meeting with President Donald Trump on Tuesday, during which they’ll have the opportunity to make a strong case regarding jobs creation and regulations.
Being consistent with his campaign promises, President Trump seems to move very quickly on his pledge to create as many jobs as possible in the manufacturing sector.
During his first official White House press conference on Monday, White House Press Secretary Sean Spicer announced Donald Trump’s plans to have a breakfast meeting with the CEO’s of Detroit’s legendary car manufacturers, Ford, Fiat-Chrysler and General Motors.
Sean Spicer gave no specific details about the upcoming meeting at the White House yet he described the general theme of the discussion as being about bringing more jobs back to the auto-industry.
With President Trump repeating his campaign promise to withdraw from or to renegotiate NAFTA, Tuesday’s meeting may give Detroit’s execs a good chance to make their case about job creation in the United States and why not, how the plants in Mexico can be relocated in the United States.
NAFTA’s giant sucking sound of jobs going South of the border has cost Detroit dearly in terms of lost opportunities for the city’s blue collar workers since its enactment in 1994.
Some analysts are arguing that withdrawing from NAFTA completely may have significant consequences for the auto industry, as it will create chaos and it will lead to increased prices and financial losses.
However, Trump is the first REP presidential candidate to win Michigan since 1988 due to his campaign promise to revitalize Michigan’s auto industry and to bring back jobs by penalizing US companies (including automakers) who manufacture in foreign countries for keeping down costs of production on goods imported back into America.
According to Ford CEO Mark Fields, GM CEO Mary Barra and Fiat Chrysler CEO Sergio Marchionne, automakers need clarity with regard to President Trump’s trade and regulatory policies he plans to enact in the near future.
Prior to NAFTA taking effect, the US had almost 17 million manufacturing jobs. As per July of 2016, the figure was 12.3 million, yet US population increased significantly in the last 23 years.
Trump said that he will renegotiate NAFTA with the Canadian and Mexican governments in order to mitigate the huge decline (over 27%) in manufacturing jobs, whilst in the future, his administration will focus on bilateral agreements as opposed to multinational ones, such as the TPP/TTIP.
Source: Detroit Free Press