WASHINGTON, March 13 (Reuters) - President Donald Trump
met General Motors ( GM ) CEO Mary Barra on Wednesday to discuss
the automaker's investment plans amid his tariff war, a White
House official told Reuters.
In meetings with automakers, Trump and Commerce Secretary
Howard Lutnick have said they want the industry to move more
assembly and production of parts to the United States.
Trump last week agreed to exempt automakers for a month from
his punishing 25% tariffs on Canada and Mexico so long as they
complied with existing free trade rules.
The decision followed a telephone call with Barra, Ford
CEO Jim Farley and Stellantis ( STLA ) chair John
Elkann.
On Thursday, Trump told reporters of Barra's visit the
previous day, adding, "They want to invest $60 billion."
The period over which any new spending may occur is unclear.
Automakers have told the White House they need certainty about
policies on tariffs and vehicle emissions before they can make
significant changes in North American investment plans.
Asked about the meeting, a GM spokesperson said, "We share
President Trump's goals of a strong and competitive American
manufacturing base and economy."
This week Trump imposed bulked-up tariffs on steel and
aluminum, affecting nearly $150 billion worth of products made
from the metals, ranging from cars to bulldozer blades.
The metals tariffs were hiked to an effective increase of
25% as prior exemptions, exclusions and quotas expired.
Last month, Ford's Farley warned that in the long term, a
tariff of 25% across the Mexican and Canadian borders would
"blow a hole" in the U.S. industry never before seen.
The American Automotive Policy Council, which represents the
Detroit Three automakers, said domestic automakers buy the vast
majority of their steel and aluminum in the United States or
North America.
However, it flagged concerns that specifically revoking
exemptions for Canada and Mexico would add significant costs for
their suppliers.
Last week, Stellantis ( STLA ) told dealers it was prepared to work
with Trump to support further investment in U.S. manufacturing
operations but needed time for changes that did not hurt the
business and customers.
Trump has also threatened new reciprocal tariffs on April 2
that could drastically boost the costs of vehicles imported from
Europe, Japan and South Korea.