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The share in General Motors was reduced to nil Tuesday after US President Donald Trump threatened to remove all subsidies received by GM, including for electric cars.
– Very disappointed with General Motors and their CEO, Mary Barra, as they closed factories in Ohio, Michigan and Maryland. Nothing closes in Mexico or China. The United States saved General Motors, and here are the thanks we receive. We are currently considering removing all GM subsidies, including for electric cars, by writing Trump on Twitter.
The share is down 2.58 percent for the day after the president came out with the match.
Reduces thousands of jobs
On Monday, the automaker announced the closure of several factories and the removal of thousands of jobs in the United States.
Trump rages after the GM cuts: – They play with the wrong person
15% of the American workforce will disappear in 2019. There are manufacturing plants in White Marsh, Maryland and Warren Michigan, as well as assembly lines in Oshawa near Toronto, Detroit (Michigan) and Warren. (Ohio).
Trump was quickly out of his reaction when the news was known. Monday night he said that
GM is expected to reduce its investments in China and also set up new factories in Ohio, one of the states affected by the latest cuts.
"They should install a new plant there very quickly," Trump told the Wall Street Journal.
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