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Trump Threatens to Yank All GM Subsidies

GM CEO Mary Barra
(Credit: General Motors )

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Trump Threatens to Yank All GM Subsidies

GM shocked plenty of people when it announced multiple plant closures. Among those taken off guard was President Trump, and he’s not the least bit happy. The commander in chief got on Twitter to fire off threats at the auto giant, including cutting all subsidies GM enjoys.

That would include federal subsidies for future GM electric vehicles, which Trump went out of his way to mention. Such a move could seriously hurt sales and the operating expenses for GM. To do this, Trump would either have to issue an executive order without any challenge, or win Congress over to his way of thinking.

The reasoning Trump offered for such a move was the fact that GM has built production facilities in Mexico and China. During his campaign run, Trump promised voters in Ohio and Michigan that he would bring manufacturing jobs back to those states, only to see GM go the other way.

Many are still upset about the $11.2 billion loss U.S. taxpayers had to shoulder after the GM bailout. While CEO Mary Barra isn’t directly culpable for that arrangement, Trump and others want to see GM pay for that misdeed, especially if it’s going to lay off American workers.

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