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Donald Trump wants to be the savior of the shaken industry, bringing back lost jobs to the Americans. But the largest US automaker GM does not play. This is also due to Trump's policy.
During the Tupelo campaign, Donald Trump is in his element: "Over the years, you have seen powerful forces move your jobs to Washington – this is about to change," said the US president to his supporters in the state of Mississippi. The fact that the largest US automaker General Motors has recently announced the closure of several factories and the removal of thousands of jobs is something that Trump does not mention at all.
General Motors: The automaker wants to set up a tight savings program. (Source: Carlos Osorio / Reuters)
A day later, he threatens the company on Twitter of a stop subsidy. Trump wrote that he was very disappointed with General Motors and the company's director, Mary Barra. Now, see if you can remove all GM subsidies, including those for electric cars, he added. "In Mexico and China, nothing is closed, the United States has saved General Motors, and it is the THANKS we receive!"
Slap for Trump
In fact, the austerity agenda of the car icon is a bitter blow for the US president in several ways. Austerity plans not only show that the future of key industries such as the auto industry is uncertain, despite the fact that Trump is bragging about the low unemployment and the vigor of the US economy because of its mbadive tax cuts. Part of the painful shock of reality is that Trump himself is partly responsible.
Because the American auto industry is groaning in the customs dispute initiated by the US president with trading partners such as the EU or China. "As expected, Trump's punitive tariffs are damaging to all parties, so Americans are shattering," said FDP Vice President Michael Theurer. In particular, increased barriers to imports for steel and aluminum are a significant burden. "Fees on metals have brought us about $ 1 billion in profits," said Jim Hackett, Ford's general manager, at the end of September.
A worker at a General Motors plant in Ontario: the builder creates thousands of jobs in North America. (Source: Frank Gunn / The Canadian Press / Image Archive / AP / dpa)
Until now, GM publicly acknowledges this part of the job reduction rationale, which is unpleasant for the Trump Government in Washington, highlighting "rising material costs." Officially, the reasons were the reasons for the cancellation of work on Monday: in sales of sport utility vehicles and pick-up love in America of small and medium-sized pbadenger cars, production is therefore adapted to changing market conditions. In addition, investments in electric cars and autonomous driving are needed to prepare for the future.
"Forget where they come from"
GM's director, Mary Barra, wants to avoid as much as possible to thwart the known for his temper Trump against himself. Senior management briefed the US president Sunday night on his plans and apparently tried to make him indulgent. At the latest with the recent tweet, it is clear that this did not succeed – and even before Trump clearly explained his position: "It was a serious mistake of GM," he told the "Wall Street Journal ". "I think they forgot where they came from."
Very disappointed with General Motors and their CEO, Mary Barra, for closing factories in Ohio, Michigan and Maryland. Nothing is closed in Mexico and China. The United States General Motors, and this is the THANK YOU we have! We are now looking to cut all @GM grants, including ….
– Donald J. Trump (@realDonaldTrump) November 27, 2018
Trump called on the automaker to stop production in China and instead "Oh damn, quickly open a new factory in the US state of Ohio". If the job remains permanently closed there, she has "a problem," threatened Trump's boss, Barra. He also told reporters in Washington that the United States had done a lot for GM – and that they were able to put a lot of pressure on the group headquartered in Detroit.
…. for electric cars. General Motors created a big China years ago by building factories there (and Mexico): American workers!
– Donald J. Trump (@realDonaldTrump) November 27, 2018
The influential US auto union UAW is already attacking GM 's austerity course. The group could therefore face stiff opposition from an alliance of Trump supporters and workers' representatives. "The ruthless decision of GM to reduce or shut down its operations in US factories while producing more for the US market in Mexico and China is seriously harming US workers," said Vice President of the United States. UAW, Terry Dittes.
Blow in the head
In fact, given the recent development of businesses, GM's austerity program must be a blow to one of the estimated 15,000 employees likely to be fired in North America. In fact, the auto giant was working well: during the summer quarter, sales rose 6.4% year on year and net profit was surprisingly high at $ 2.5 billion. Therefore, the fact that the industry leader is braking so hard is also a bad omen for the US economy as a whole.
Since 2009, the US auto industry market has been steadily strengthening, and in recent years, sales growth fueled by cheap fuels and favorable financing rates have led to record sales and profits. substantial for manufacturers. The Trump government has fueled the already very dynamic US economy this year with mbadive tax cuts, but more and more experts are now pushing to end the recovery. GM and Ford had already issued profit warnings in the middle of the year.
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