It’s no surprise global carmakers including BMW AG want Trump to maintain free trade, including with Mexico. But on this point, executives in Detroit aren’t necessarily uniform in what they want from the administration.
The concept of border adjustability, in which corporate taxes are applied to all imports and eliminated from exports, appeals to Ford’s Mark Fields. As CEO of the top U.S. vehicle producer and a top exporter, such reform is “clearly one of the things that we would like to see,” the CEO said.
BMW plans to open a new factory there in early 2019 to build its 3 Series sedan, which will be exported all over the world. The German automaker also is spending $1 billion on a plant in South Carolina that’s its largest worldwide and produces sport utility vehicles.
“The conditions for investment and for employment have worked very well for us, and we hope it stays that way,” said Ian Robertson, head of global sales and marketing.
Volvo doesn’t want any limitations on trade, Samuelsson said. “That’s important for the U.S. economy. It cannot be a closed market.”