Ford and GM contribute USD 1 million each to Trump’s inauguration
Ford and GM contribute USD 1 million each to Trump’s inauguration
US President elect Donald Trump's inauguration has been given significant contributions from Ford Motor Co and General Motors Co. Company representatives confirmed on Monday, both automakers will donate USD 1 million each and vehicles for the January event.
But Trump’s administration is looking at policies related to tariffs and electric vehicles (EVs) that could impact Detroit automakers directly. Proposed tariffs on the imports from Mexico and Canada and the possible elimination of an EV tax credit which has been a large factor in getting companies like Ford to deliver on battery powered vehicles.
Ford CEO Jim Farley expressed hope of working with the new administration on these matters. Farley said during a press briefing earlier this month that, given Ford's employment profile and its role in the U.S. economy and manufacturing, the administration will be very interested in hearing Ford's perspectives.
GM also chimed in with a USD 1 million donation and the offer of vehicles for the inaugural events. The automaker declined further comment on its expectations from the administration on industry policies.
Trump’s previous inauguration in 2017 raised a record USD 106.7 million as a result of this level of corporate involvement. Filers also cited contributions from other industry heavy hitters including Amazon and Meta Platforms.
President Joe Biden’s 2021 inauguration raised USD 61.8 million, with contributions from companies such as Pfizer, AT&T, and Boeing.
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And the auto industry still maintains a sharp focus on how the incoming administration will deal with salient issues, from tariffs to EV incentives. Detroit’s automakers are keeping a close watch to see how investments in electrification and cross-border manufacturing fare under Trump’s leadership, with the future of investments in these fronts on the line.
The economic and political importance of the auto industry is underscored by this partnership between Ford, GM, and the administration. The contributions highlight a strategic move to engage proactively with a new administration likely to influence the sector’s future.
