Tonight will go down as a historical night. That's because tonight marked the very first State of the Union from President Trump.
You may agree or disagree with the man but one thing is certain: Tonight's speech was powerful and made waves.
As a listener, I did pick up on his talking point regarding the automotive industry. He noted that Fiat Chrysler Automobiles (FCA) had shifted production from Mexico to Michigan, which will benefit from a $1B investment, and specifically called out the $1.6B Toyota-Mazda plant to be built in Alabama.
In addition, Trump noted the following:
“In Detroit, I halted Government mandates that crippled America’s autoworkers — so we can get the Motor City revving its engines once again,” he said.
This got me thinking a bit. From an economics perspective there's a whole lot going on in regards to the automotive players — domestic and foreign — in the U.S.
Who do YOU think stands to GAIN the most in the Trump era?...Love or hate him, and there does not seem to be many people with an opinion in between, President Trump has completely changed the discussion on U.S. automotive production. As a candidate, citizen Trump made U.S. employment one of the cornerstones of his platform and message. He was derided by some, cheered by others, and many simply thought his idea to begin shifting manufacturing back to the high-wage, high-cost environment of the U.S. was simply out of touch with the new reality. As a President, Donald Trump continued his push, and it is fair to say that he has had a massive impact on the discussion, and perhaps the reality, of U.S. production moving back to the United States. And let’s be clear about one point; Mexico, and to a lesser degree Canada, are not part of Trump’s vision of where vehicles for sale in America should be made, NAFTA be damned...
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