Ford and GM each donated $1 million to Trump's inauguration

Representatives of automakers Ford Motor and General Motors (GM) donated $1 million each and provided vehicles for the inauguration of U.S. President-elect Donald Trump, which will be held in January 2025. This was reported by Reuters on December 23.

As noted by the interlocutors of the agency, the decision to provide cars to the elected American leader may be related to his proposal to impose broad duties on imports from Mexico and Canada, as well as to cancel the tax credit for electric cars, which benefits Ford.

The tariffs and electric vehicle policies being considered by the new administration would affect Detroit-based automakers, including Ford, which has struggled with sales of electric cars.

Object reality: Russia will continue to seek return of diplomatic property in the U.S.

Deputy Foreign Minister Ryabkov described how Moscow would "drip on the brains" of the new administration on the issue

Earlier on Nov. 26, Trump said he would impose additional 10 percent duties on goods from China and 25 percent duties on all products from Mexico and Canada. He said China had failed to fulfill a promise to impose the death penalty on fentanyl traffickers, causing "drugs to flood" into the U.S. - mostly through Mexico - on an unprecedented scale.

Subsequently, shares of automakers General Motors and Ford Motor fell 4.2 percent and 2.2 percent, respectively, in premarket trading.

Prior to that, The Washington Post (WP) reported on November 20 that the trade duties that Trump is about to impose could severely damage European Union (EU) countries. According to economists, "protectionist measures of Trump" may entail further recession in Europe and complicate relations between allies.

On November 6, it became known that the EU fears that after the election of Trump may start a new trade war between the countries of the association and Washington. It was specified that in 2018, as President of the United States, Trump, for reasons of national security, imposed a duty on steel at a rate of 7% and a tariff on imports of aluminum at a rate of 10%.