Donald Trump’s presidency seemed to be off to a ridiculously enthusiastic start, with “The Trump Effect” sweeping the corporate landscape of America.
Many major corporations came forward to indicate that their confidence in the new president would cause them to alter or abandon plans to move manufacturing outside of the United States. Unfortunately, one of those massive companies looks to be reneging on their promise.
“US car maker Ford is sticking with a plan to open two auto-parts plants in Mexico this year, despite earlier announcing it had scrapped plans for a separate factory there.
“Ford without warning last month canceled plans to build a $1.6 billion project in San Luis Potosi, an auto-making area in central Mexico.
“Gabriel Lopez, president and CEO of Ford Mexico, said however that this did not affect two other projects it has under way in the country since 2015, which are scheduled to begin production this year.
“The plants, in the central state of Guanajuato and the northern city of Chihuahua, will make engines and transmissions.
“They will supply Ford factories in the United States, South America, Europe and Asia.”
How President Trump will react to this disheartening news is yet to be seen.
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