United States President Donald Trump stated that he was more than disappointed after General Motors (GM) suddenly announced plant closures in Ohio, Michigan, and Maryland.
Trump made his anger known through social media just one day after GM stated that they are closing five plants and cutting almost 14,000 jobs in North America. The majority of those jobs coming from the American Midwest where coincidentally, Trump had made a personal promise of manufacturing rebirth. In addition to closing down the plants in the Midwest, General Motors also announced the closure of one of their main plants in Oshawa, Ontario, Canada.
The President’s tweet stated that he was very disappointed with GM and Mary Barra (GM’s CEO) for the closure of plants in the U.S. Midwest. He also stated that the United States saved GM, and closing down plants is the thanks that they get. Trump said they are now looking at cutting all GM subsidies.
Larry Kudlow, the National Economic Council director, said that Trump feels personally betrayed by GM, because the government has done nothing but try to help them. He feels like they turned their backs on him.
Currently, the government has been assisting GM with providing $7,500 worth of federal tax credits to customers who purchase GM’s electric vehicles. The incentive was applied to help boost sales, reduce the price, and get more environmentally friendly vehicles on the road.
As of now, there is no clearly drawn out plan of what, or when, or if any action is going to be taken. Sarah Huckabee Sanders, press secretary at the White House, has stated that she has no additional information to offer that pertains to the president’s threat.
The battery-powered GM Chevrolet Bolt is one of their primary focus models. It can go almost 250 miles on a single charge. General Motors has applied the majority of future business plans and success on the idea of consumers switching to battery-powered cars. They’ve made a promise to push out 20 new models internationally by 2023. There is no word how GM is going to get affected if Trump cuts off all GM subsidies at this time.