President-elect Donald Trump is definitely going to be a 'game changer' in the automobile industry, according to Sergio Marchionne, CEO of Fiat Chrysler.
Fiat Chrysler Automobiles (FCA) is a multinational corporation, mainly controlled by Italians. According to the CEO, having Donald Trump as the incoming president would have a huge impact in the automobile industry --- as well as for a number of conditions in the United States that has yet to be spelled out.
It mainly had to do with President-elect Donald Trump's views regarding the North American Trade Agreement (NAFTA), which is actually quite unfavorable to America --- and perhaps, the worst deal it has ever signed.
NAFTA's issue and the impact it will have, taking away potential jobs for Americans, also played a key role in his campaign --- bringing him to victory as he often criticized the unfair deal.
As reported on Bloomberg, Ford also came under heavy criticism from the President-elect. Potential jobs for Americans were actually affected when Ford moved their operational base to Mexico for small car production.
He is also going to impose a 35% tax to make up for the losses, which exploitative and monopolistic companies in the US had done, due to the majority of their production being outsourced outside American shores --- costing potential jobs that could have been given to unemployed citizens. The 35% tax imposition is expected to make companies consider their actions.
In an article on My Stock 118, Sergio Marchionne has mentioned in June that if then-Presidential candidate wins, it would have an effect on automobile production options in the US; however, it will depend on how he would actually handle NAFTA, as well as protectionism, which always benefits only a selected few.
Fiat Chrysler had actually benefited when President-elect Donald Trump won and had gained 14% in shares, which mainly had to do when he had appointed someone in the Environmental Protection Agency who is skeptical of the climate change scam.