Ford Talks Trump, Business Climate
Chairman Bill Ford Says Blue Oval Looks Forward to Profitable Business Regulations Under Trump Administration
It’s no secret that President-elect Donald Trump has taken some shots at the Blue Oval about its international business practices. But despite that, Ford seems optimistic about the next four years.
After delivering his 2017 NAIAS opening remarks at the Joe Louis Arena earlier this week, Ford’s Executive Chairman Bill Ford opened it up to questions from the press. With Trump’s imminent policy shifts remaining somewhat nebulous, questions about the president-elect’s impact on Ford’s business were to be expected.
Chairman Ford has indeed met with the incoming president. They reportedly discussed various topics pertaining to the automotive business, including trade and tax policies, and currency fluctuations.
“I found him to be very informed and very respectful of our position,” says Ford, as reported by the Detroit Free Press.
While Ford is keeping that position “private,” he says that he is “very encouraged” by the incoming president’s stance on tax policy. At 35 percent, Ford believes that the corporate income tax rate is too high. Trump says that’s something he’s willing to look at it.
Ford went on to speak highly of Elaine Chao, Trump’s choice to head the Department of Transportation. Chao, whose married to U.S. Senate Majority Leader Mitch McConell, previously served as the nation’s labor secretary under President George W. Bush.
Ford CEO Mark Fields also met with reporters at the Detroit Auto Show. He conveyed similar optimism to the forthcoming Trump presidency.
“We expect a more favorable U.S. manufacturing business environment,” says Fields.
Hopefully he’s right.