Ford scraps Mexican factory

Ford Motor scrapped a planned Mexican car factory and added 700 jobs in Michigan following criticism by Donald Trump, as the U.S. president-elect turned his attention toward rival General Motors with the threat of a "big border tax" over compact cars made in Mexico.

Ford CEO Mark Fields called the move "a vote of confidence" in Trump, but primarily a response to a decline in North American demand for small cars like those that would have been made at the Mexican plant.

Source: Reuters