Trump threatens to cut General Motors subsidies as carmaker axes jobs

General Motors To Close Ohio Plant, Thousands Affected

GM slashing 15% of its salaried workers in North America

A White House rebuke to GM would fly in the face of long-held Republican opposition to picking winners in the marketplace.

"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", he added. You better get back in there soon.

GM did not respond to a request for comment.

GM electric vehicles are eligible for a $7,500 (£5,848) tax credit under federal law.

Asked about Trump's tweet, White House Press Secretary Sarah Huckabee Sanders told reporters at a briefing, "I don't know that there's a specific timeline".

Auto sales have slowed in both China and the United States, two of GM's most important markets.

Meanwhile, it's a fallacy to suggest that the new deal could have either prevented or ended up expediting the cuts, said Dan Ujczo, an OH trade lawyer who hails from Lordstown, the same community outside Cleveland that's home to one of the five GM plants where production is to cease next year.

"We are right-sizing capacity for the realities of the marketplace", Chief Executive Mary Barra said.

Factories that could be closed include assembly plants in Detroit and Oshawa, Ontario, and Lordstown, Ohio, as well as transmission plants in Warren, Michigan, and near Baltimore.

Mexico border crossing closed after migrant protest halted in Tijuana
Videos posted on Twitter showed large numbers of migrants dashing across a shallow concrete waterway towards the border. It said that 1,906 of those who have returned were members of the recent caravans.

But the single largest batch of job cuts by a US automaker in 17 years wasn't greeted as grim news by shareholders. USA automakers have enjoyed almost a decade of prosperity since the 2008-2009 financial crisis and the government bailouts of GM and the former Chrysler Corp.

The Trump administration has moved to scrap stringent emissions requirements for cars put into place in the Obama era to tackle climate change. He has never been shy about voicing his frustration with their decisions.

The GM job cuts hurt Trump's campaign promise to bring back American auto jobs. It could also prompt other automakers like Ford (f) to make similar layoffs. Under that deal, Carrier pledged to keep almost 1,100 jobs in Indianapolis, including some 800 furnace production jobs it planned to cut with outsourcing.

Tesla Inc. has already reached the cap and GM is expected to be next. The factories slated for closure could get new products in exchange for items the company wants from the union, she said. But it later negotiated concessions from the union and reopened the plant to build the Chevrolet Sonic subcompact vehicle. "It seems like GM would rather build its electric cars in China than in the U.S".

Besides shutting down a number of manufacturing facilities, GM will also reduce overall workforce by 15 percent in order to save GBP 3.5 billion (about Rs 31,800 crore).

The move is likely to lead to the loss of more than 14,000 jobs in North America, including over 6,100 shift workers at the plants. In October, nearly 65 percent of new vehicles sold in the US were trucks or SUVs. The second-largest domestic automaker had already scrubbed plans for a second assembly line in Mexico past year due to declining passenger auto sales.

Needless to say, GM is feeling the heat and made a decision to respond with a short statement saying it is "committed to maintaining a strong manufacturing presence in the U.S".

"We recognize the need to stay in front of changing market conditions and customer preferences to position our company for long-term success".

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