WASHINGTON (Sputnik) — President Donald Trump said during a speech in Ypsilanti, Michigan on Wednesday that he plans to make an important announcement about the automobile industry next week.
"By the way, we’re going to have a very big announcement next week having to do with your industry," Trump stated. "Very, Very Big. Very Important. Everybody’s saying what is it? Let’s keep them guessing back there."
Trump did not give any additional details about the upcoming announcement or when it will happen next week.
Trump has widely criticized US automakers for manufacturing cars abroad, which he claimed led to loss of factories and jobs. The US president promised to penalize companies that have either moved to other countries or plan to do so in the near future by imposing higher taxes on them.
In January, General Motors, a manufacturer that builds large number of its vehicles in Ramos, Mexico, announced its $1 billion investment plans for the United States that included adding 1,500 jobs. The company was joined by Korean car manufacturers Hyundai and Kia in unveiling plans to invest $3 billion in the United States in the next five years.