The appointment is with the European stock exchanges closed: the American president is meeting in the Roosevelt Room of the White House the CEOs of 10 car manufacturers, including Sergio Marchionne, CEO of FCA and Ferrari. For the first time since January 2017, therefore, the number one of the three Detroit groups will find themselves in the same room with Donald Trump: in fact, with Marchionne there will be James Hackett, CEO of Ford, and Mary Barra, CEO of General Motors. The meeting focuses on regulations regarding emissions and fuel efficiency but it is also the pretext for discussing the North American Free Trade Agreement, the free trade agreement between the USA, Canada and Mexico that the US president wants to rewrite.
There are essentially two sides at the table: that of the Trump administration, which is preparing to dismantle the legislation desired by the previous government of Barack Obama and defended by states such as California; and that of car manufacturers, who according to the 45th Commander in Chief have not reacted enthusiastically to his plans designed to help them reduce costs and respond to the needs of consumers (who in the USA are increasingly asking for SUVs and pickup trucks). It is true that automakers have complained of too rigid standards, but the regulatory easing that Washington is preparing to implement is so extensive that – it is the most recurring thesis – it will end up creating more problems than benefits.
Yesterday, during Ford's annual meeting, CEO Jim Hackett and president Clay Ford Jr they expressed a desire for a compromise: “We are not asking the administration to dismantle” the regulations. “We want California at the negotiating table and we want unique national standards that include California.” The US West Coast state can set its own emissions standards and ideally would like zero-emission vehicles. The so-called Golden State has launched a lawsuit against the Trump government precisely to stop the regulatory step backwards; many democratically oriented states followed his example. In total, 17 states plus the District of Columbia have joined the legal action; together they represent 140 million people and over 40% of the car market.
