Companies That Should Fear “America First”: Ford (F)
While Trump’s “victory” over Ford’s plans in mid-November was a little anemic (the word is that no jobs were going to be lost even if the Lincoln MKC’s production was moved south of the border), it’s tough to deny Ford hasn’t taken notice of, and responded to, Trump’s rhetoric.
Just last week, the carmaker canceled plans to build a new $1.6 billion plant in Mexico. Ford CEO Mark Fields made a point of saying the decision had nothing to do with Trump’s policies, but rather were driven by market conditions. The timing of the decision is uncannily coincidental, though.
And yet, as compelling as the last few weeks of headlines have been, the reality is that Ford along with its peers would still love to transplant more production of its vehicles to locales outside of the United States … where costs are considerably lower.