- President Trump made some comments to the press in front of his meeting with automaker CEOs from General Motors (GM +0.8%), Ford (F +0.9%) and Fiat Chrysler Automobiles (FCAU +4.1%).
- Trump promised the group that the industry will see "real regulations" and a hospitable environment in the U.S. to incentivize a move of manufacturing jobs to the U.S. Though Trump noted that he is an environmentalist at heart, he said the EPA permitting process will be greatly simplified and lower corporate tax rates will also be a benefit.
- All talk? CNBC auto analyst Phil Lebeau notes that automakers will have a hard time building new plants in the U.S. due to the tight margins and the sunk cost of existing facilities in Canada and Mexico.
- All three of the Detroit majors are higher in early trading.