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Mary Barra from GM: We are committing to the United States
Mary Barra, CEO of General Motors, talks about the automaker's plans to build an electric vehicle plant at a plant in Orion, Michigan, as well as President Trump's criticism of the company's decision to close a plant at Lordstown, Ohio, and its commitment to creating jobs in America.
Mary Barra, CEO of General Motors, said Wednesday that the company has not yet made a final decision on the possible impact of prevailing tariffs on Trump's Mexican products on its business. .
In late May, President Trump announced that the United States would impose a 5% tariff on all Mexican products until the country stepped up its efforts to fight illegal immigration through the border. South. Trump said the rates would come into effect on June 10 and could even reach 25% by October if no progress is made.
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Barra told Reuters that the exact impact of tariffs is "very difficult to say without understanding the rules and exclusions that surround them". GM manufactures some of its vehicles in Mexico.
GM's shares fell on Wednesday and have been volatile since Trump's first announcement and subsequent remarks. On Wednesday, President Trump called on Mexico to "step up" its efforts to prevent impending tariffs. His statements were made as one of the White House's leading business advisers suggested that the country's tariffs may not come into effect on Monday, as planned.
"If they do not, the tariffs will remain in effect and if they increase, companies will return to the United States," Trump said at a press conference with the Irish prime minister. .
| Teleprinter | security | Latest | Change | % Chg |
|---|---|---|---|---|
| GM | GENERAL MOTORS COMPANY | 35.84 | +0.11 | + 0.31% |
While Barra refused to speculate on a possible impact of Mexican tariffs, she told lawmakers that they would have a significant impact, Reuters reported, citing Congressional advisers familiar with the issue.
Barra also defended GM's plan to sell a plant located in Lordstown, Ohio, to the Workhorse electric car start-up company. The proposed deal has been criticized in recent days for concerns about Workhorse's financial situation and ability to close the deal.
"We continue to think that this is a strong possibility and that we think people should focus on opportunities and maybe some optimism will not hurt anyone," Barra said.
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As part of a plan to cut costs and invest in new technologies, GM announced late last year that it would cut about 15,000 jobs and shut down several facilities. North America. Trump and local lawmakers lobbied GM to remain active in Ohio.
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