Ford CEO touts TPP withdrawal after Trump meeting

January 25, 2017


Ford Motor Company CEO Mark Fields on Tuesday praised President Trump for abandoning the Trans-Pacific Partnership after a breakfast meeting with Trump and other leaders of the U.S. auto industry.

[Daily News| January 24, 2017 |Inside US Trade]

“I would just call out yesterday the president’s decision to withdraw from the TPP,” Ford told reporters outside the White House after the Jan. 24 meeting.

“We’ve been very vocal both as an industry and as a company and we’ve repeatedly said that the mother of all trade barriers is currency manipulation. And TPP failed in meaningfully dealing with that and we appreciate the president’s courage to walk away from a bad trade deal,” he added.

Ford came out against TPP almost instantly after negotiations concluded in October 2015, citing what it called a lack of disciplines on currency manipulation contained in the deal.

Read More at Inside US Trade

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  • William Ryan
    The best thing that I read recently regarding corporate taxes was from Brad Setser over at Econospeak and Follow the Money said corporate money that is parked off shored or as an inversion is not taxed or taxed at a much lower level is at 2.75 % of GDP because a lot of tax avoidance rules for tax havens means the system is rigged. Thus he says it would be better if all US citizens are taxed on their global income and not on the basis of their residency and not to tax their production. He also says that when the most obvious solutions are nit embraced, it is most invariably because of politics. Today most corporations spend a lot of money to structure production to avoid taxes as tax havens.
  • Mark Sanguinetti
    Currency manipulation is discussed, but our one sided tax system that favors multi-national companies who only import goods to the U.S. is ignored. There needs to at least be a level playing field of taxation in the U.S. If our productive workers and their employment company is taxed as they produce goods in the U.S. then why is there a very small in comparison tax or no tax on imported goods? Here is information from the U.S. Constitution on foreign trade.
  • William Ryan
    Fool me once shame on you. Fool me twice shame on me syndrome at work with the smoke and mirrored TPP the was basically created by people with their own self interests in mind. I also would like to call out a bluff and threats to a trade war. After all they have had an unfair advantage for a very long time because we have had very weak leadership in America for a very long time regarding trade. If we do not stand for something as a nation then we will continue to sit for nothing like we have been doing for a very long time…We need much greater global equality of opportunity. Trump must change the existing structure of predatory globalism so that more countries benefit and wealth hoarding is reduced. The economic security of the American people will return. Decisions where cost is the greatest should be analyzed the most carefully.