Trump says foreign country plans to build, expand five U.S. auto sector plants
President Donald Trump said on Wednesday a foreign leader told him at the United Nations last week that the country would soon announce plans to build or expand five automobile industry factories in the United States.
"I just left the United Nations last week and I was told by one of the most powerful leaders of the world that they are going to be announcing in the not too distant future five major factories in the United States, between increasing and new, five," Trump said in a speech on tax reform in Indianapolis. He added the factories were in the automotive industry.
He did not name the country. The White House did not immediately respond to a request for comment.
Automakers in Japan and Germany have both announced investments in the United States this year, with companies coming under pressure from Trump’s bid to curb imports and hire more workers to build cars and trucks in the country.
Investments to expand U.S. vehicle production capacity also reflect intensified competition for market share in the world’s most profitable vehicle market.
In August, Toyota Motor Corp said it would build a $1.6 billion U.S. assembly plant with Mazda Motor Corp .
Toyota also said this week it was investing nearly $375 million in five U.S. manufacturing plants to support U.S. production of hybrid powertrains.
Last week, German automaker Daimler AG
Rival German luxury automaker BMW AG
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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