Trump says he's contemplating slicing GM subsidies in response to layoffs

Trump says he's contemplating slicing GM subsidies in response to layoffs

President Donald Trump hinted Wednesday that he's looking into slapping tariffs on auto imports, a day after he threatened to slash federal subsidies to General Motors for wanting to close five US factories. At a rally near the plant past year, Trump talked about passing by big factories whose jobs "have left OH", then told people not to sell their homes because the jobs are "coming back".

The White House confirmed the call and used similar language, saying: "The two leaders discussed their disappointment in the announced closures of General Motors plants in their respective countries and their plans for the upcoming G20 Summit". GM has announced it will build a new plant in Mexico. "The U.S. saved General Motors, and this is the THANKS we get!"

Since GM is already close to reaching the 200,000 limit, cutting its subsidy for producing electric cars wouldn't have much effect under current law.

National Economic Council Director Larry Kudlow said Tuesday that the White House's reaction to the automaker's announcement was "a tremendous amount of disappointment, maybe even spilling over into anger". It is also responding to a consumer shift away from sedans in favor of trucks and SUVs, CNN reported.

Brown said people in the Mahoning Valley area trusted Trump, so it's time for him to "live up to his promise" and urged him to support Brown's legislation, which has been referred to the Senate Finance Committee.

GM has said the moves are created to prepare the company for a future of driverless and electric vehicles. "The reality is GM is on the cusp of complete disinvestment in Canada, and that will lead to a catastrophic end to Canada's most lucrative export industry". "We appreciate the actions this administration has taken on behalf of industry to improve the overall competitiveness of USA manufacturing", the statement said. For instance, GM plans to add hundreds of workers at its pickup truck assembly plant in Flint, Michigan, Morrissey said.

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GM said it has invested more than $22 billion in USA operations since 2009, when it exited bankruptcy protection. In October, nearly 65 per cent of new vehicles sold in the US were trucks or SUVs.

Democratic U.S. Senator Sherrod Brown says workers are being hurt by GM's decision.

"I'll stand up for my record fighting for American workers against this president's, any day, on any issue", said Brown, who after his election this month to a third term said he is seriously considering a 2020 president run.

Jerry Dias, president of the Canadian trade union UNIFOR, said Tuesday that GM's CEO had insulted the president of the United States and the prime minister of Canada.

"We are at crossroads", he said.

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