Trump Calls Ford's Mexico Expansion An 'Absolute Disgrace'

Ford Motor Company F announced on Tuesday that it will be building a new small car assembly plant in Luis Potosi, Mexico. The Detroit automaker said the project represented an investment of roughly $1.6 billion, and that it would create 2,800 jobs by 2020. Construction is expected to start this summer.

While Joe Hinrichs, president of Ford of the Americas, told CNBC this did not mean that the company is moving jobs out of the U.S., others argued that creating jobs outside of the U.S., instead of creating more employment for the country is just as troubling.

Among those who oppose to Ford’s expansion in Mexico is none other than Republican presidential nominee Donald Trump, who has been criticizing the company for this move for quite some time now.

“This transaction is an absolute disgrace,” Trump said in a statement. “Our dishonest politicians and the special interests that control them are laughing in the face of all American citizens. These ridiculous, job crushing transactions will not happen when I am President.”

“The United States now has a three quarter trillion dollar merchandising trade deficit with the world. NAFTA has incentivized plants to move to Mexico, closing factories across the United States,” he continued.

"When I am President, we will strongly enforce trade rules against unfair foreign subsidies, and impose countervailing duties to prevent egregious instances of outsourcing. This will continue until we can renegotiate NAFTA to create a fair deal for American workers. Cheap goods are not cheap when you consider the cost of lower wages and higher unemployment. Once we reduce the incentive to outsource and keep business in the US -- and reduce taxes and regulations -- the relative price of goods will go down as decades of wage stagnation finally come to an end.”

Disclosure: Javier Hasse holds no positions in any of the securities mentioned above