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The American president Donald Trump threatens the automaker General Motors (GM) after announcing massive job cuts with subsidy cuts. He was very disappointed by Mary Barra, general manager and general manager of the company, wrote Trump Tuesday (local time) on Twitter.
"We are considering removing all GM subsidies, including those for electric cars," he added. "Nothing is closed in Mexico and China, the United States has saved General Motors and we are delighted!"
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
…. 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 automaker announced Monday to reduce its domestic production and thus lay off staff and close some manufacturing facilities. The measure could reach 15,000 employees.
The main reasons are the weakening sales of small cars in the United States and rising material costs, such as those imposed by Trump's special steel tariffs. In addition, the group wants to move capacity and investment because of the shift to future technologies such as electric cars.
Slight nervousness among investors
Trump's threats caused a slight nervousness among investors – GM's stock suffered losses, closing at 2.5%. However, the announcement of the austerity program, which is expected to reduce costs by 4.5 billion dollars (3.9 billion euros) by the end of 2020, had already push up prices.
Trump had attacked GM the day before and demanded that the group stop production in China and open new plants in the United States.
GM responded to Trump's attack on Twitter with a statement in which the company said it wanted to maintain a strong industrial presence in the United States. As evidence, GM referred to more than $ 22 billion, which has been invested since 2009 in its US sites.
We are committed to maintaining a strong manufacturing presence in the United States. Many US patents workers affected by our actions
– General Motors (@GM) November 27, 2018
… this includes technical and engineering jobs that support the future of mobility. We are creating a better world today and for generations to come.
– General Motors (@GM) November 27, 2018
The measures announced Monday aimed to position the company for long-term success, boosting employment growth in the United States. Many of the affected employees could also change plants.
GM's criticism also in Canada
However, criticism of GM's decision is not only important in the United States, but also in Canada, which also affects factories and jobs.
US President Trump met on Tuesday with Prime Minister Justin Trudeau. They are both disappointed with GM's concerns and worried about the affected workers, their families and their communities. Automobile unions in both countries are attacking planned plant closures and want to hold major protests.
President @RealDonaldTrump GM, the auto industry and the best way to help people on both sides of the border. We will continue to work @ G20org summit this week.
– Justin Trudeau (@JustinTrudeau) November 28, 2018
We will support Canadian auto workers and their families affected by GM's plan to close their plans in Oshawa next year. Thanks to Jerry Dias and the team at @UNIFORtheUnion for the meeting and the discussion of today. pic.twitter.com/82mypYmF2r
– Justin Trudeau (@JustinTrudeau) November 28, 2018
(Oli / September / afp)
Created: 28.11.2018, 08:11
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