General Motors feels heat as president threatens subsidies

General Motors feels heat as president threatens subsidies

General Motors feels heat as president threatens subsidies

GM on Monday announced it would cut six gas-powered auto models as part of a plan to close factories and cut costs so it can spend more on electric and autonomous vehicle development.

United States trade representative Robert Lighthizer has on Wednesday, slammed Beijing for not proposing a "meaningful reform" against the trade policies, which is resulting is harming USA workers and also the industry, and threatens China to impose tariff rate on Chinese autos.

Trump has said in the past that those threats were meant as a way to extract concessions from other countries on unrelated trade matters.

Trump also said that the tariffs, which GM warned would "undermine [its] competitiveness against foreign auto producers.", have "nothing to do" with the layoffs.

China now imposes a 40 percent tariff on USA automobiles, while the United States has a 27.5 percent tariff on Chinese vehicles.

In two tweets, the president said that extending tariffs already in place for foreign-built small trucks to the auto sector would help domestic manufacturers.

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Meanwhile, Mahoning County Democratic Party Chairman David Betras said: "I'm upset that we bailed GM out, gave them tax breaks and they stuck it to the workers". While Trump could likely claim BMW building a new plant in the United States as a big win, the German company has far from confirmed any plans, and has also shown signs that the trade war is actively hurting its business in the USA.

General Motors announcement of their Lordstown plant closing has been the topic of discussion between Ohio's senators. Get smart Congress. Also, the countries that send us cars have taken advantage of the USA for decades. "The President has great power on this issue - Because of the G.M. event, it is being studied now!" Congress is not considering any measure that would penalize auto imports. Last year, it imported about 250,000 vehicles for sale in the United States, while it exported 272,000 of the 371,000 X series SUVs. "My office sent a copy of the bill over to the White House [Wednesday night] and we will continue doing everything we can to fight for Ohio jobs", the Ohio Democrat said in a statement.

"There's disappointment that it seems that GM would rather build its electric cars in China than the United States, and we are going to be looking at certain subsidies regarding electric cars and others, whether they should apply or not". Kudlow, who met with Barra on Monday, said that Trump felt betrayed by GM, which the government had been trying to help. On Monday, he ordered GM executives to reverse their decision. And on Wednesday, he threatened the new auto tariffs.

The crowd cheered, bolstered with hope that President Trump would protect their jobs.

GM jobs built my community's middle class by paying good wages and providing a strong benefits package.

Much of the information in that original Twitter post was incorrect. GM's actions would be the biggest restructuring for the carmaker since its bankruptcy a decade ago when they were bailed out by the government.

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