Ford announced Tuesday that it's canceled its plans to build a $1.6 billion plant in Mexico. Instead, the second-largest American automaker will invest $700 million in a plant in Flat Rock, Michigan, adding 700 jobs.
Ford CEO Mark Fields made a point to clarify Ford did not "cut a deal" with President-elect Donald Trump, but rather "did it for our business." However, Fields did seemingly give a nod to Trump's pro-business interests when explaining why Ford had its change of heart. "Our announcements today are really a vote of confidence in the economy," he said.
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