Trump raises prospect of import vehicle tariff after GM cutback plan
01 December, 2018, 05:14 | Author: Melinda Barton
American auto industry giant General Motors (GM) announced earlier this week that the company would eliminate several assembly plants in the USA and would cut 15 percent of its workforce, which is about 14,700 jobs. He also warned GM the White House is studying moves he can take using his executive powers to punish the company. That amounts to less than 0.2 percent of the $3.3 trillion the Treasury took in during the latest fiscal year.
"The goal of Treasury's investment in GM was never to make a profit, but to help save the American auto industry, and by any measure that effort was successful", Treasury Department spokesman Adam Hodge said at the time.
Mr. Dias met with the Prime Minister on Parliament Hill and pressed him to work with Mr. Trump to force General Motors to reverse its plan to end production at the five plants, including the one in Oshawa.
"They underscored their concerns for the workers, for the communities and for the families that are affected by this decision", a senior Canadian official told reporters.
President Donald Trump said those jobs were coming back. Many of those cuts are coming from the Midwest, where he has promised a manufacturing rebirth.
"General Motors is very counter to what other auto, and other, companies are doing", he tweeted.
Trump, who is unhappy with GM's closing of American auto plants this week, retweeted the tweet without details. "In my opinion and the opinion of people all over, GM has an obligation to invest back in us", Rankin said. "Don't move, don't sell your house", he said.
Addressing the closure of the assembly plants in the US, President Donald Trump stated Wednesday that the government was studying possible vehicle tariffs.
"That's OH, and you better get back in there soon", he said.
President Donald Trump is threatening to impose new tariffs on imported cars again. GM produces the all-electric Chevrolet Bolt, and already was expecting to see the subsidies drop early next year.
When White House press secretary Sarah Huckabee Sanders was asked if she had any infomrtaion related to the timeline for pulling subsidies, she said she had no additional information on the president's threat.
Germany's BMW has a plant in SC with 10,000 employees. Trump has publicly threatened GM as he tries to follow through on campaign promises to boost American manufacturing - which he reiterated during a rally near the Lordstown facility previous year.
GM's announcement left manufacturing cities reeling.
"We can confirm that we are considering building an engine plant in the U.S.to supply BMW vehicles manufactured in the USA and Mexico", Domonic Stoiber with BMW's Corporate and Governmental Affairs said in a statement.
Earlier this week, Trump singled out Brown, who has said he is thinking about running for president himself, for criticism after GM announced its layoff plans.
"This is a big headwind for the US consumer", he said.
About half the workers laid off from those plants would have a chance to relocate to other GM operations, according to the company. The President added that he believed GM would be "opening up something else" in the state of Ohio. But it later negotiated concessions from the union and reopened the plant to build the Chevrolet Sonic subcompact vehicle. The ability to make more components in the US would help BMW address local content rules, according to Bloomberg.
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European Union leaders urged G-20 participants to address concerns about journalist safety and the Saudi-backed war in Yemen. Prince Mohammed also met Chinese president Xi Jinping on the summit sidelines, the Saudi Press Agency said on Twitter.
Trump also said it was " highly unlikely " he would accede to Chinese requests to not institute additional tariffs. The frank talk came four days ahead of his high-stakes meeting with Chinese President Xi Jinping in Argentina.
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