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Investing.com -- President Donald Trump met with General Motors (NYSE:GM) CEO Mary Barra on Wednesday to discuss the company’s investment plans in the midst of an ongoing tariff dispute. The conversation took place following Trump’s decision last week to temporarily exempt automakers from a 25% tariff imposed on Canada and Mexico, provided they adhere to existing free trade regulations.
The temporary exemption came after a call between Trump, Barra, Ford CEO Jim Farley, and Stellantis (NYSE:STLA) chair John Elkann. Trump informed reporters on Thursday that GM has expressed interest in investing $60 billion, though it remains unclear over what duration this spending might occur. The automaker has yet to comment on the meeting.
Automakers have expressed to the White House that they need clarity on tariff and vehicle emissions policies before they can make substantial changes to their investment plans in North America.
Trump and Commerce Secretary Howard Lutnick have expressed to automakers in meetings that they would like the industry to shift more assembly and parts production to the United States.
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