Just In: Major European Company To Invest In America

The European car manufacturer, Fiat Chrysler, is going to start up a factory in Detroit thus starting the first new auto assembly plant for a domestic maker in the U.S. in a decade. Another victory for Trump.

Fiat plans to build sport-utility vehicles at the Detroit facility, people familiar with the plan told the Wall Street Journal Thursday.

This unexpected move comes just days after the Trump administration gathered the heads of several car manufacturers from Europe to a private meeting in the White House. This meeting comes after President Trump threatened to add tariffs to auto imports, a move that would hugely affect the European industry.

The EU manufacturers attempted to dissuade the White House by emphasizing existing plans to invest more in their U.S. operations.

The report comes almost a week after General Motors announced that they would close four factories in America. The CEO of General Motors, Mary Barra met with Capitol Hill lawmakers Wednesday to hear pleas to stop the closures.

“She has said she was going to keep an open mind but does not want to raise expectations up,” Sen. Rob Portman, R-Ohio, told reporters following the meeting.

What are your thoughts on this folks?

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