G.M., Not Trump, Is the Real Villain Here
And Who Saved GM From Going Belly Up, WE THE PEOPLE and This is How They Thank Us, By Closing Plants!
President Trump Hits Back At GM
President Donald Trump will consider cutting all subsidies to General Motors after the company announced plans to slash productions at several American plants, he said Tuesday.
“We are now looking at cutting all @GM subsidies, including…. for electric cars,” the president wrote in a pair of tweets.
Very disappointed with General Motors and their CEO, Mary Barra, for closing plants in Ohio, Michigan and Maryland. Nothing being closed in Mexico & China. The U.S. saved General Motors, and this is the THANKS we get! We are now looking at cutting all @GM subsidies, including....
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The automaker’s shares fell following the tweet and were down nearly 3 percent on Tuesday afternoon. The company did not immediately respond to CNBC’s request to comment.
The tweet escalates the president’s public threats against GM as he pushes the company to keep the facilities in Ohio, Michigan and Maryland open. Trump has repeatedly pressured American companies who consider shutting down facilities or moving operations overseas after he pledged to revive U.S. manufacturing.
Cutting subsidies to corporations exporting American jobs should be a priority for an “America First” president.
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