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Trump is continuing meetings with auto industry executives

President Donald Trump meet with the executives of the most important auto makers, to discuss about his policies. Business community is reacting differently on Trumps decisions. On the meeting was present General Motors CEO Mary Barra, Tesla CEO Elon Musk and several other top executives of major U.S. companies.

Business leaders stated after the meeting that the group discussed bank rules, tax reform, and objections to Trump’s week-old ban.

Tensions over the policies is rising

CEO-s are not sharing the common ground. Uber CEO Travis Kalanick on Thursday quit the business leaders’ group, a panel selected by Trump in December, under pressure from activists over Trump’s last week executive order to ban people from seven Muslim-majority countries entering to enter in U.S.

The sharpest outcry about Trump’s travel restrictions, which caused chaos and protests at U.S. airports last weekend, came from tech companies, which have broad concerns about his immigration plans. Uber criticized the ban but took heat from activists when its chief competitor, Lyft, appeared more vocal on the issue.

“Joining the group was not meant to be an endorsement of the president,” Kalanick said in a memo explaining why he left Trump’s advisory panel. Musk had said before the meeting he would raise concerns with Trump about the travel crackdown. Musk said in a tweet on Thursday: “In tomorrow’s meeting, I and others will express our objections to the recent executive order on immigration and offer suggestions for changes to the policy.”

Executives from Ford Motor Co. and Tesla also criticized Trump’s travel ban, but other advisory group members, including GM and JPMorgan Chase & Co. have not taken a position.

“I’m pleased to have been part of a very constructive discussion on how we can all work together on policies that support a strong and competitive U.S. economy, create jobs and address safety and environmental issues,” Barra said in a statement. “As we have stated, a vibrant U.S. economy that is competitive globally and that grows jobs is what we all want.”

U.S. companies of all political stripes want Trump, a Republican, to fulfill a campaign pledge to slash corporate taxes, but a schism has developed over how to do it. The president has threatened companies that manufacture in Mexico with a 20 percent tax on imports and needled pharmaceutical executives to make more drugs in the U.S. On Thursday, he publicly cheered South Korea’s Samsung Electronics Co. for saying it might build a U.S. plant for its home appliances business.

The White House said in a statement on Thursday evening that did not mention Uber that Trump “understands the importance of an open dialogue with fellow business leaders to discuss how to best make our nation’s economy stronger.”

By |2018-11-30T15:57:20+00:00February 3rd, 2017|Categories: US, World|Tags: , , , , , , , |0 Comments

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