Published: Fri, November 30, 2018
Business | By Tara Barton

GM responds to Trump's comments after decision to shut down plants

GM responds to Trump's comments after decision to shut down plants

BMW offered its own response to the president's tweet, confirming only that they "are considering building an engine plant in the U.S".

On Wednesday morning, the president called for Congress to pass legislation installing a 25 percent tariff on small trucks.

"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".

Brown said Trump "wasn't really aware" of the tax break in the law that pushed some American companies to move overseas, but that the president "said he would help".

While his latest comments mark an escalation in frustration over GM's restructuring plan, the administration has always been considering imposing new tariffs on vehicle imports.

GM electric vehicles are eligible for a $7,500 tax credit under federal law, but it is not clear how the administration could restrict those credits or if Trump had other subsidies in mind.

Trump has long promised to return manufacturing jobs to the United States and particularly the Midwest.

According to CNN's unnamed sources who are "familiar with the matter", the only subsidies associated with GM's cars are the tax credits that consumers get for buying electric-GM doesn't get that cash, and in any case it's not an initiative that's specific to any one auto manufacturer.

Members of Congress from OH and MI will hold a news conference Thursday morning on the recently-announced General Motors plant closures.

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"Look, we made this deal, we've worked with you along the way, we've done other things with mileage standards, for example, and other related regulations", Kudlow said, referencing the recently negotiated U.S. -Mexico-Canada trade agreement.

Senate Democratic Leader Charles Schumer on Tuesday criticized Trump for "overpromising" as a candidate about protecting against plant closures if he was elected. The factory will also make products geared to auto manufacturers and appliance makers.

"Jerry Dias, head of Unifor which represents the 2,500 Canadian workers that will find themselves out of work at the end of 2019 when GM shutters its Oshawa plant, met earlier with Trudeau".

Also, BMW didn't announce a major new plant, but its CEO said Tuesday the company is considering a new USA engine factory to supply assembly plants in SC and Mexico.

But those expansions aren't enough to accommodate all of the roughly 3,300 USA factory workers who could lose their jobs.

"Very disappointed with General Motors and their CEO, Mary Barra, for closing plants in Ohio, Michigan and Maryland". The company estimated that the measures will save as much as 6 billion dollars.

The United Auto Workers union said it would challenge the move through "every legal, contractual and collective bargaining avenue open to our membership", and politicians on both sides of the aisle also slammed the layoffs. "So we're comfortable with where we are", Burritt said, according to a transcript.

The decision drew sharp criticism from the United States and Canadian labor unions representing GM workers.

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