The stock market didn’t like the sound of President Trump’s latest comments about General Motors’ plan to shutter five U.S. plants and fire over 14,000 U.S. and Canada-based employees. After Trump threatened to end “all GM subsidies” Tuesday, shares for the company fell precipitously.
“Very disappointed with General Motors and their CEO, Mary Barra, for closing plants in Ohio, Michigan and Maryland,” Trump tweeted Tuesday. “Nothing being closed in Mexico & China. The U.S. saved General Motors, and this is the THANKS we get! We are now looking at cutting all @GM subsidies, including for electric cars. General Motors made a big China bet years ago when they built plants there (and in Mexico) – don’t think that bet is going to pay off. I am here to protect America’s Workers!”
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