Bloomberg WASHINGTON (Bloomberg) — U.S. President Donald Trump is laying out an explicit quid pro quo for automakers: He will cut them a break on environmental standards and wants more hiring in return.
“You need to come back and give us big numbers in terms of jobs,” Trump told the chief executive officers of General Motors Co., Ford Motor Co. and Fiat Chrysler Automobiles NV on Wednesday. The Obama administration’s decision to preserve its fuel economy rules “would have destroyed, or further destroyed, the auto industry.”
During the meeting with executives, Trump also reiterated a demand that Toyota make cars in the United States. In an exchange with Jim Lentz, chief executive officer of Toyota Motor Corp.’s North American operations, footage on the White House’s official YouTube account showed Trump saying, “You’ve got to build those new plants here.”
Toyota will work with the Trump administration to “support policies that help grow our economy, reduce the impact on the environment and serve the best interest of consumers,” Kayo Doi, a Tokyo-based company spokeswoman, said in an emailed response to a request for comment following the meeting.Speech