US President Donald Trump met with the heads of Fiat Chrysler Automobiles, General Motors and Ford in Washington on Wednesday.
The White House tenant promised the world's major automakers that doing business in the United States, under his presidency, will be easier and above all less expensive.
Indeed, Trump confirmed to Sergio Marchionne, Mary Barra and Mark Fields his intention to implement a substantial tax cut, while simultaneously reducing "useless regulations" that cause an "environmentalism out of control". The auto giants, for their part, will have to increase production and support employment in the US: "We will give a big push to have auto plants and other plants - Trump said - I want new plants built here for cars that are sold here ", he added.
After the meeting came the comment of the managing director of FCA, Sergio Marchionne who declared that he "appreciated" the focus of the president "to make the USA a fantastic place to do business". Marchionne added in a statement that he and the company are "looking forward to working with President Trump and members of Congress to strengthen America's manufacturing sector."
We recall that Fiat Chrysler Automobiles has invested over 9,6 billion dollars in the sector and has created 25.000 jobs from 2009 to today.
For FCA, however, good news also comes from Italy. The share recovered the ground lost due to the dieselgate, closing the stock market session with a rise of 5,6% and returning steadily above the 10 euro level (10,09 to be precise). The upward revision by Goldman Sachs of the target price from 16,5 to 19,7 euros has helped purchases, with the buy opinion confirmed.
