Saturday 24 Jun 2017

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Trump Targets GM

In another tweet targeting a U.S. company, President-elect Donald Trump is threatening to slap a tax on General Motors for importing compact cars to the U.S. from Mexico.

But GM makes the vast majority of compact Chevrolet Cruzes in Lordstown, Ohio, near Cleveland.

Trump tweeted early Tuesday that GM is sending Mexican-made Cruzes to the U.S. tax-free. He told GM to stop or pay a big border tax.

GM saw the tweet and is formulating a response.

Shares of GM fell 0.4 percent to $34.70 in premarket trading after the tweet.

Last year Trump threatened to tax Ford, which plans to shift production of the compact Focus to Mexico. Jobs at the U.S. factory that makes Focuses would be preserved because the plant would get a new pickup and SUV.

Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

2 Comments

  1. BIGBOB says:

    Who cares as long as he brings good paying jobs back to the U.S.
    With Donald Trump who know what he will do next.
    We all know that the U.S. was on it’s way to be a third world country.
    We now have some hope! He may be the only President that the white house is a down grade for him. The Clinton’s when they left office last time even took the silverware.

    Reply
  2. Kelly tom says:

    Will he tax his own products made overseas?

    Reply

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