01-24-2017, 12:46 PM
President Trump met with auto Ford, GM, and Fiat CEOs today
Both Ford and GM announced plans to expand and add thousands of jobs long ago. They confirmed those plans in the meeting today. Trump is claiming credit for the job creation, but that seems to be par for the course.
In any case, it's looking like new job creation will continue to grow under the new administration, at least in the short term (and hopefully the long term), which is good.
The CEOs were against the TPP proposal because they didn't believe it adequately addressed currency manipulation. Currency manipulation occurs when a country's central bank buys a lot of foreign currency, usually dollars, to lower the value of its own currency while simultaneously driving up the value of the other country's currency. This artificially lowers the cost of goods produced in that country and boosts export demand. Trump officially canned TPP yesterday, so the Ford CEO praised him for that.
I think TPP was beneficial to the U.S. in terms of giving us a lot more access and strength within the large Asian consumer and financial markets, though critics contend it would be harmful to U.S. manufacturing (the actual impacts are debated). I really hope scrapping TPP wasn't sacrificing some very good long-term benefits to the U.S. economy for little domestic benefit. We'll see.
Both Ford and GM announced plans to expand and add thousands of jobs long ago. They confirmed those plans in the meeting today. Trump is claiming credit for the job creation, but that seems to be par for the course.
In any case, it's looking like new job creation will continue to grow under the new administration, at least in the short term (and hopefully the long term), which is good.
The CEOs were against the TPP proposal because they didn't believe it adequately addressed currency manipulation. Currency manipulation occurs when a country's central bank buys a lot of foreign currency, usually dollars, to lower the value of its own currency while simultaneously driving up the value of the other country's currency. This artificially lowers the cost of goods produced in that country and boosts export demand. Trump officially canned TPP yesterday, so the Ford CEO praised him for that.
I think TPP was beneficial to the U.S. in terms of giving us a lot more access and strength within the large Asian consumer and financial markets, though critics contend it would be harmful to U.S. manufacturing (the actual impacts are debated). I really hope scrapping TPP wasn't sacrificing some very good long-term benefits to the U.S. economy for little domestic benefit. We'll see.