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Trump Wants GM To Reimburse America For The Bailout?

Trump Wants GM To Reimburse America For The Bailout?

US President Donald Trump on Wednesday said the White House was studying whether it should impose import penalties on all foreign automobiles in response to GM's announcement that it was shuttering multiple US plants.

GM is set to idle five factories in the U.S. and Canada and eliminate about 14,000 jobs, more than ten percent of its North American workforce.

"This callous decision by GM to reduce or cease operations in American plants, while opening or increasing production in Mexico and China plants for sales to American consumers, is, in its implementation, profoundly damaging to our American workforce", said Terry Dittes, UAW vice president, director of GM Department, in a statement.

"The U.S. saved General Motors, and this is the THANKS we get!" the president tweeted on Tuesday, referring to the government bailout of the automaker a decade ago. "We are now looking at cutting all GM subsidies, including for electric cars".

White House press secretary Sarah Huckabee Sanders did not elaborate as to what cuts could be enacted.

Earlier this week, GM announced GM plans to close up to five plants by the end of the year.

Russian Federation blocks Kerch Strait amid confrontation with Ukraine
In September, the Ukrainian navy accused Russian border guards of "acts of provocation" against its ships taking the same route. Ukraine accused a Russian coastguard vessel, named the Don, of ramming one of its tugboats in "openly aggressive actions".

The cuts will "position the company for long-term success and maintain and grow American jobs", GM said, adding that many workers at impacted plants will be able to move to other GM factories. Citing the existing 25 per cent tariff on imported small trucks, he claimed that if the same tariff applied to passenger cars, GM would not have closed its plants in Michigan, Ohio and Maryland. "It's important to note that the factors that prompted GM's recent decision, the declining sales of the Chevy Cruze, were not due to the quality of the auto or the capability of the workforce, but rather current consumer preference", the letter states. "I said, 'You know, this country has done a lot for General Motors".

His comments on Wednesday mark the third straight day that Trump has responded to GM's announcement with a series of policy-related attacks.

"You can't place all of the blame on Donald Trump, but he individually raised the stakes because he promised workers he was the only one who could save the manufacturing base", Cohen said.

"It's the state and locals that are going to be able to put icing on the cake", she said, pointing to big incentives extended to Foxconn in Wisconsin and Amazon in Virginia and NY. GM did receive government bailout funds after the financial crisis, as did many other companies, but it repaid its United States loans - $6.7 billion - in 2010. In July 2017, speaking at a rally about 20 miles away in Youngstown (Ohio), Trump said he saw too many empty factories in the area and pledged to revive manufacturing there.

Keeping open a plant slated for closure is not without precedent for GM. USA consumers have responded by purchasing yet more SUVs and trucks, which accounted for about 65 percent of new-vehicle sales in September. The United States slapped an additional 25 percent tariff on Chinese-made vehicles earlier this year, prompting China to retaliate.

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