Detroit Automaker (F, GM, FCAU) Stocks Pop Following Trump Meeting

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After President Trump made some public comments in front of the press ahead of his meeting with automaker CEOs, shares of General Motors GM , Ford Motors F , and Fiat Chrysler FCAU are gaining on Tuesday.

Investors seem to be reacting to the president's promises related to relaxing environmental regulations and making it easier for domestic carmakers to operate in the United States. Trump also talked about lowering taxes for businesses.

Interestingly enough, President Trump described himself as an "environmentalist" but said that it has gotten "out of control."

"We want regulations, but we want regulations that mean something," Trump said.

The CEOs talked to the press following the hour-long meeting, and the mood among the group was optimistic. Ford CEO Mark Fields, who celebrated his 56 th birthday today, said that President Trump is "very focus" on investment and jobs in America.

Previously, Trump has been critical of these carmakers for being too eager to move manufacturing abroad. The president has especially critiqued companies who have moved their plants to Mexico under NAFTA. In his first few days as POTUS, Trump has already promised to renegotiate NAFTA, but none of the CEOS commented about specific discussions related to the free trade agreement.

As of 11:41 p.m. EST, shares of F were up 1.67% to $12.52, FCAU was up 5.93% to $10.89 per share, and GM was up 1.42% to $37.18 per share.

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Ford Motor Company (F): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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