DETROIT (Michigan News Source) — Ford Motor Co. and General Motors are making high-profile contributions to President-elect Donald Trump’s January inauguration, each pledging $1 million. Ford will also send a lineup of vehicles for the event to support inaugural activities.
The contributions come as the auto industry prepares for potential changes to trade and tax policies, according to Fast Company.
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In a recent post on Truth Social, President-elect Donald Trump proposed tariffs of up to 25% on imports from Mexico, Canada, and China. About one-third of vehicles sold in the U.S. for under $30,000 are built in Mexico, a market segment that could see impacts from the proposed tariffs according to data from Edmunds.
Additionally, Trump has suggested eliminating the federal electric vehicle (EV) tax credit, a move that could affect automakers like Ford and GM as they expand their EV offerings. Both companies have yet to achieve profitability in the sector, as reported by the Detroit Free Press.
Ford CEO Jim Farley and GM CEO Mary Barra expressed optimism about collaborating with the incoming administration. Farley said he hopes Trump will consider the industry’s perspectives, while Barra said that Trump has been attentive in past discussions.
The auto industry is also watching for potential adjustments to the U.S.-Mexico-Canada Agreement (USMCA), which requires 75% of a vehicle’s parts to originate regionally to avoid tariffs.
The donations follow similar pledges by other major corporations, including Meta and Amazon, which have also committed $1 million each to the inauguration.
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