The “Trump bump” or the “Trump effect”? Either way Donald Trump is having a big impact on the U.S. economy. Auto manufacturers are falling all over themselves investing in new plants and new American jobs, Hyundai-Kia is just the latest with their announcement this week of the $3.1 billion investment working to ‘Make America Great Again’.
The chief executive officer of Hyundai-Kia made the announcement this week and noted that they had opened a new plant in Mexico just two months before Donald Trump’s election in November. The CEO said the Mexican plant, that is expected to turn out 400,000 cars per year, was now a “source of worry.” He also noted that Hyundai-Kia wouldn’t be making any additional investments in Mexico.
Did I mention, Make America Great Again!?
In a proactive move as President-elect, Donald Trump has been talking to the people who run some of the largest companies in the U.S.: Carrier, Ford, General Motors, Chrysler, and now Hyundai-Kia. Trump has no problem picking up the phone and calling people who actually make decisions and create real jobs. The results have been immediate and obvious.
Ford has stopped development of a new plant in Mexico and is investing nearly $1 billion retooling a Michigan plant, creating 700 jobs. Carrier cancelled and moved to Mexico keeping 1000 jobs in Indiana, with a promise to invest over $1 billion and create another 10,000 jobs over the next few years.
Donald Trump hasn’t wasted any time proving that he cares about American workers and about the American economy. Barack Obama spent most of his first term giving nearly $1 trillion to various governmental entities to create government “jobs” that, in reality are a drag on the economy. Obama promised that his trillion dollar “investment” would be spent on “shovel ready jobs” that he seemed never to be able to find.
“Shovel ready jobs turned out to be not a shovel ready as we thought.” No, but you did manage to piss away $1 trillion, Mr. President. Oops, make that $10 trillion.
Which company will be next? President-elect Trump has already had a conversation with BMW and General Motors, threatening them with tariffs of up to 35% on cars imported into the U.S. from Mexico. It’ll be interesting to see how long it takes them to see the light.
The bottom line, Donald Trump has been getting more results for American workers in his two months as President-elect than Barack Obama did in eight years as President.
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