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The president is set to announce today that he will give automakers a $1 billion loan to help build new vehicles for the U.S. market.

Trump will sign the bill as he makes a campaign-style stop in North Carolina, which has been hit hard by the coronavirus pandemic.

The plan comes as auto companies face a new wave of losses, with more than half of the global auto market expected to lose at least $2 billion in 2019, according to the latest data from the International Association of Machinery and Automation.

The company said it expects annual sales to drop to about 730,000 vehicles in 2019.

Trump has previously said he would give the auto industry a loan, but the measure would be a first for him.

He has repeatedly called for the auto sector to be reformed.

He also called for a “tremendous investment” in the U:$1.5 trillion over 10 years to rebuild and modernize U.K. factories, including one in Flint, Mich., a community that has been ravaged by the outbreak.

At the same time, he has pledged to spend billions on infrastructure projects, including building roads and bridges and expanding rail systems.

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