Fiat CEO Warns May Shut All Mexico Production If Trump Tariff “Too High”

Monday, January 9, 2017
By Paul Martin

by Tyler Durden
ZeroHedge.com
Jan 9, 2017

Agree with his proposed policies or not, it’s difficult to argue that Trump is delivering on his promises to the autoworkers of the Midwest who single-handedly voted him into the White House. Before even taking office, the mere threat of import tariffs has caused Ford to cancel the construction of a $1.6 billion new facility in Mexico, and has automotive CEO’s from Toyota to Chrysler walking on eggshells as they carefully try to flaunt all of the capital investments they’re making in U.S.-based facilities.

While likely secretly hoping for the status quo, Fiat Chrysler’s U.S. CEO, Sergio Marchionne, admitted earlier today that if Trump’s import tariffs are “sufficiently large” he would be forced to shutter all of his manufacturing capacity in Mexico as it would be rendered “uneconomical.” Per the FT:

Fiat Chrysler may close its Mexican car plants if Donald Trump imposes sufficiently stringent tariffs on vehicles coming into the US, chief executive Sergio Marchionne said on Monday.

“It’s possible that if economic tariffs are imposed…and are sufficiently large, it will make production of anything in mexico uneconomical and we would have to withdraw,” he said in Detroit on Monday. “It’s quite possible.”

The Rest…HERE

Leave a Reply

Join the revolution in 2018. Revolution Radio is 100% volunteer ran. Any contributions are greatly appreciated. God bless!

Follow us on Twitter